Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) Shares Gap Down – Here’s Why

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY)’s stock price gapped down before the market opened on Tuesday. The stock had previously closed at $4.22, but opened at $4.0750. Nippon Steel & Sumitomo Metal shares last traded at $4.2350, with a volume of 41,472 shares.

Nippon Steel & Sumitomo Metal Stock Up 0.2%

The company has a current ratio of 1.71, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm’s 50 day simple moving average is $4.30 and its two-hundred day simple moving average is $3.95. The firm has a market cap of $22.89 billion, a price-to-earnings ratio of -213.00 and a beta of 0.61.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last announced its earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $16.70 billion.

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation was a major Japanese steelmaker formed in 2012 through the merger of Nippon Steel Corporation and Sumitomo Metal Industries. In 2019, the company changed its name to Nippon Steel Corporation, while continuing the operations and businesses associated with the former Nippon Steel & Sumitomo Metal organization.

The company produces a broad range of steel products, including sheets, plates, bars, wire rods, pipes, tubes and specialty steels.