NEC Co. (OTCMKTS:NIPNF) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 156,500 shares, a decline of 53.9% from the August 15th total of 339,700 shares. Based on an average daily trading volume, of 100 shares, the short-interest ratio is currently 1,565.0 days.
NIPNF remained flat at $$56.00 on Friday. 10 shares of the company’s stock were exchanged, compared to its average volume of 522. NEC has a one year low of $37.55 and a one year high of $62.54. The company has a 50-day moving average price of $51.36 and a 200-day moving average price of $52.82.
Separately, Morgan Stanley cut shares of NEC from an “overweight” rating to an “equal weight” rating in a report on Tuesday, May 25th.
NEC Corp. engages in the provision of systems, components, services, and integrated solutions for computing and communications applications. It operates through the following segments: Public Business, Enterprise Business, Telecom Carrier Business, System Platform Business, and Others. The Public Business segment provides system integration (system architecture and consulting), support (maintenance), outsourcing and cloud services, and system equipment for public, medical and financial institutions.
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