Nitto Denko Co. (OTCMKTS:NDEKY) Short Interest Down 29.6% in February

Nitto Denko Co. (OTCMKTS:NDEKY - Get Free Report) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 47,800 shares, a drop of 29.6% from the February 13th total of 67,900 shares. Based on an average daily trading volume, of 32,700 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.0% of the shares of the stock are short sold.

Nitto Denko Stock Performance

NDEKY traded down $0.02 during trading on Thursday, reaching $20.05. 10,889 shares of the company traded hands, compared to its average volume of 60,192. Nitto Denko has a 12-month low of $12.80 and a 12-month high of $20.91. The firm has a fifty day simple moving average of $18.60 and a 200 day simple moving average of $21.04. The company has a market cap of $14.17 billion, a P/E ratio of 16.65 and a beta of 0.84.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.27 earnings per share for the quarter. Nitto Denko had a net margin of 12.91% and a return on equity of 12.60%. As a group, sell-side analysts expect that Nitto Denko will post 1.23 earnings per share for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.