Short Interest in Panasonic Co. (OTCMKTS:PCRFY) Drops By 27.0%


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Panasonic Co. (OTCMKTS:PCRFY) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 317,900 shares, a drop of 27.0% from the March 15th total of 435,200 shares. Based on an average trading volume of 302,700 shares, the days-to-cover ratio is presently 1.1 days.

Separately, Zacks Investment Research cut shares of Panasonic from a “strong-buy” rating to a “hold” rating in a report on Saturday.

OTCMKTS:PCRFY traded down $0.10 during midday trading on Monday, reaching $12.89. The stock had a trading volume of 168,884 shares, compared to its average volume of 331,731. The firm has a fifty day simple moving average of $12.90 and a two-hundred day simple moving average of $11.65. Panasonic has a 12-month low of $6.84 and a 12-month high of $14.55. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. The stock has a market cap of $31.62 billion, a P/E ratio of 18.68, a P/E/G ratio of 10.84 and a beta of 1.04.

Panasonic (OTCMKTS:PCRFY) last posted its quarterly earnings data on Monday, February 1st. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $17.37 billion for the quarter. Panasonic had a net margin of 2.14% and a return on equity of 8.08%. On average, sell-side analysts anticipate that Panasonic will post 0.41 earnings per share for the current fiscal year.

About Panasonic

Panasonic Corp. engages in the development, manufacture, and sale of electrical products. It operates through the following segments: Appliances, Eco Solutions, Connected Solutions Company, Automotive and Industrial Systems, and Others. The Appliances segment develops and manufactures white goods such as vacuum cleaner, washing machine, refrigerator, and air conditioner; as well as health and beauty products.

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