Nitto Denko Corp. (OTCMKTS:NDEKY) Shares Shorted: Short Interest Down 52.3% in September

Nitto Denko Corp. (OTCMKTS:NDEKY) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 39,626 shares, a decline of 52.3% from the August 31st total of 83,030 shares. Based on an average trading volume of 86,967 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company’s shares are sold short.

Nitto Denko Trading Down 0.8%

Shares of NDEKY stock traded down $0.17 during trading hours on Wednesday, hitting $22.39. 230,182 shares of the company were exchanged, compared to its average volume of 104,489. The business has a 50 day moving average of $21.55 and a two-hundred day moving average of $20.34. Nitto Denko has a 52 week low of $17.75 and a 52 week high of $26.48. The company has a market capitalization of $15.20 billion, a PE ratio of 17.09 and a beta of 0.84.

Nitto Denko (OTCMKTS:NDEKY) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.13). The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.60 billion. Nitto Denko had a net margin of 12.94% and a return on equity of 12.13%. Nitto Denko has set its FY 2026 guidance at 1.335-1.335 EPS. On average, research analysts forecast that Nitto Denko will post 1.3 EPS for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut Nitto Denko from a “strong-buy” rating to a “neutral” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

About Nitto Denko

Nitto Denko Corporation is a Japanese materials and technology company that develops products based on polymer, adhesive, coating, and membrane technologies. Founded in 1918, the company serves industrial, electronics, automotive, healthcare, and environmental markets through a broad portfolio of specialized materials and components.

Its products include industrial and double-sided adhesive tapes, protective and sealing materials, semiconductor and circuit-related materials, and optical films used in displays.