Short Interest in Renesas Electronics Co. (OTCMKTS:RNECY) Grows By 288.7%

Renesas Electronics Co. (OTCMKTS:RNECY) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 402,242 shares, a growth of 288.7% from the June 15th total of 103,484 shares. Based on an average daily volume of 1,505,902 shares, the days-to-cover ratio is currently 0.3 days.

Renesas Electronics Stock Down 0.9%

OTCMKTS:RNECY traded down $0.13 during mid-day trading on Tuesday, reaching $13.58. 1,185,130 shares of the company’s stock traded hands, compared to its average volume of 758,218. Renesas Electronics has a 12-month low of $5.50 and a 12-month high of $16.20. The company has a 50 day moving average price of $13.52 and a 200-day moving average price of $10.10.

Renesas Electronics (OTCMKTS:RNECY) last released its quarterly earnings results on Friday, April 24th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $29.82 by ($29.70). The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $373.76 billion.

Renesas Electronics Company Profile

Renesas Electronics (OTCMKTS:RNECY) is a global semiconductor manufacturer specializing in microcontrollers, system-on-chip (SoC) devices, analog and power management solutions. The company’s products are designed to address a wide range of applications in automotive electronics, industrial automation, consumer devices, and communications infrastructure. Renesas leverages its expertise in embedded processing and mixed-signal technologies to deliver integrated solutions that help customers reduce development time and improve energy efficiency.

The company’s product portfolio includes 32-bit and 16-bit microcontrollers, application processors, analog and power discrete devices, and sensor interface ICs.