Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) Shares Gap Down – Here’s What Happened

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $4.14, but opened at $3.90. Nippon Steel & Sumitomo Metal shares last traded at $4.21, with a volume of 75,909 shares changing hands.

Nippon Steel & Sumitomo Metal Stock Down 2.2%

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.71 and a quick ratio of 0.81. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of -203.95 and a beta of 0.61. The firm has a 50-day moving average price of $4.34 and a two-hundred day moving average price of $3.86.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last announced its earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share (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 was a major Japanese steel producer formed in 2012 through the merger of Nippon Steel Corporation and Sumitomo Metal Industries. On April 1, 2019, the company changed its name to Nippon Steel Corporation. The company’s American depositary shares traded under the symbol NPSCY.

Nippon Steel produces a broad range of steel products, including flat products, plates, bars, wire rods, rails, structural steel, steel pipe and tubing, stainless steel, and electrical steel.