Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) Shares Gap Down – Should You Sell?

Shares of Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) gapped down prior to trading on Wednesday. The stock had previously closed at $4.14, but opened at $3.90. Nippon Steel & Sumitomo Metal shares last traded at $4.21, with a volume of 75,909 shares trading hands.

Nippon Steel & Sumitomo Metal Stock Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.71. The stock’s 50-day moving average is $4.33 and its 200 day moving average is $3.86. The firm has a market cap of $21.71 billion, a P/E ratio of -202.00 and a beta of 0.61.

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

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation was a major Japanese steel producer formed in 2012 through the merger of Nippon Steel Corporation and Sumitomo Metal Industries. On April 1, 2019, the company changed its name to Nippon Steel Corporation. The company’s American depositary shares traded under the symbol NPSCY.

Nippon Steel produces a broad range of steel products, including flat products, plates, bars, wire rods, rails, structural steel, steel pipe and tubing, stainless steel, and electrical steel.