Nitto Denko Corp. (OTCMKTS:NDEKY) Stock Short Interest Declines 79.2%

Nitto Denko Corp. (OTCMKTS:NDEKY) was the recipient of a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 17,955 shares, a drop of 79.2% from the October 15th total of 86,296 shares. Based on an average daily volume of 60,621 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company’s shares are sold short.

Nitto Denko Stock Up 1.7%

Shares of NDEKY traded up $0.36 during trading hours on Friday, reaching $22.17. 32,512 shares of the company traded hands, compared to its average volume of 101,732. Nitto Denko has a 12 month low of $17.75 and a 12 month high of $26.00. The company’s fifty day moving average price is $22.02 and its two-hundred day moving average price is $20.99. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 16.54 and a beta of 0.82.

Nitto Denko (OTCMKTS:NDEKY) last released its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Nitto Denko had a net margin of 13.15% and a return on equity of 12.22%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.87 billion. On average, analysts expect that Nitto Denko will post 1.36 EPS for the current year.

About Nitto Denko

Nitto Denko Corporation is a Japanese materials manufacturer headquartered in Osaka. Founded in 1918, the company began by producing electrical insulation materials and has since expanded into a range of specialty products used in industrial and consumer applications. Its products include adhesive tapes, films and other materials for electronics and semiconductor manufacturing, optical films used in displays, and membrane products for water treatment and gas separation. Nitto Denko also develops medical and healthcare materials, including transdermal drug-delivery products.