Short Interest in Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) Drops By 52.9%

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 111,091 shares, a decrease of 52.9% from the July 15th total of 236,014 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 495,576 shares, the days-to-cover ratio is presently 0.2 days.

Nippon Steel & Sumitomo Metal Price Performance

Shares of OTCMKTS:NPSCY traded down $0.02 during trading on Monday, reaching $4.26. The stock had a trading volume of 81,744 shares, compared to its average volume of 312,598. Nippon Steel & Sumitomo Metal has a 52 week low of $3.32 and a 52 week high of $4.79. The business’s 50-day moving average price is $3.74 and its 200 day moving average price is $3.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.78 and a quick ratio of 0.85. The stock has a market capitalization of $22.89 billion, a PE ratio of -213.00 and a beta of 0.66.

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

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation is a major Japanese steel producer formed in 2012 through the merger of Nippon Steel and Sumitomo Metal. Headquartered in Tokyo, the company operates integrated steelmaking and rolling facilities and is widely recognized as one of the largest steel manufacturers in Japan and among the leading producers globally. Its business scope spans primary steel production, downstream processing, and a range of steel-related engineering and service activities.

The company’s product offering includes a broad portfolio of steel products such as hot- and cold-rolled flat products, plates, pipes and tubes, coated steels, stainless and specialty steels, and high-strength steels tailored for automotive, machinery, construction, energy and infrastructure applications.