Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) Sees Large Decline in Short Interest

Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 449 shares, a decrease of 83.5% from the April 15th total of 2,721 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 7,688 shares, the days-to-cover ratio is presently 0.1 days.

Idemitsu Kosan Co.,Ltd. Price Performance

Shares of OTCMKTS:IDKOY remained flat at $17.65 during midday trading on Tuesday. The stock had a trading volume of 795 shares, compared to its average volume of 3,573. The stock has a fifty day moving average of $18.80 and a 200 day moving average of $16.71. Idemitsu Kosan Co.,Ltd. has a 12 month low of $11.01 and a 12 month high of $21.05. The firm has a market capitalization of $10.81 billion and a price-to-earnings ratio of 0.38.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Idemitsu Kosan Co.,Ltd. to a “hold” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Idemitsu Kosan Co.,Ltd. Company Profile

Idemitsu Kosan Co, Ltd. is a Japanese energy company primarily engaged in the refining of crude oil and the production of petroleum products. Established in 1911 by Sazo Idemitsu, the company has grown into one of Japan’s leading refiners, supplying gasoline, diesel, jet fuel and kerosene to both industrial and retail customers. Its core refining operations are supported by a network of domestic refineries that process a wide range of crude oils.

In addition to its downstream refining business, Idemitsu Kosan manufactures petrochemical feedstocks used in the production of plastics, synthetic rubbers and other chemical intermediates.