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 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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