Nitto Denko Corp. (OTCMKTS:NDEKY) Sees Significant Increase in Short Interest

Nitto Denko Corp. (OTCMKTS:NDEKY) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 47,369 shares, a growth of 31.8% from the March 15th total of 35,935 shares. Based on an average trading volume of 167,598 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company’s shares are short sold.

Nitto Denko Trading Down 1.3%

Shares of OTCMKTS NDEKY traded down $0.28 during mid-day trading on Wednesday, reaching $20.25. 16,134 shares of the company’s stock were exchanged, compared to its average volume of 105,706. Nitto Denko has a twelve month low of $16.40 and a twelve month high of $26.48. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 15.34 and a beta of 0.94. The business has a fifty day simple moving average of $21.31 and a 200 day simple moving average of $23.19.

Nitto Denko (OTCMKTS:NDEKY) last issued its quarterly earnings data on Monday, January 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.64 billion. Nitto Denko had a return on equity of 12.71% and a net margin of 13.14%. Equities research analysts predict that Nitto Denko will post 1.23 earnings per share for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation, trading over?the?counter in the U.S. under the symbol NDEKY, is a Japan?based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.

The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.