Short Interest in Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) Decreases By 52.9%

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 111,091 shares, a decrease of 52.9% from the July 15th total of 236,014 shares. Based on an average daily volume of 495,576 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Nippon Steel & Sumitomo Metal Trading Down 0.2%

Nippon Steel & Sumitomo Metal stock opened at $4.28 on Friday. Nippon Steel & Sumitomo Metal has a 1 year low of $3.32 and a 1 year high of $4.79. The firm’s 50 day moving average price is $3.74 and its 200-day moving average price is $3.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.78 and a quick ratio of 0.85. The stock has a market cap of $23.00 billion, a P/E ratio of -214.00 and a beta of 0.66.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last issued its earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $16.70 billion.

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation is a major Japanese steel producer formed in 2012 through the merger of Nippon Steel and Sumitomo Metal. Headquartered in Tokyo, the company operates integrated steelmaking and rolling facilities and is widely recognized as one of the largest steel manufacturers in Japan and among the leading producers globally. Its business scope spans primary steel production, downstream processing, and a range of steel-related engineering and service activities.

The company’s product offering includes a broad portfolio of steel products such as hot- and cold-rolled flat products, plates, pipes and tubes, coated steels, stainless and specialty steels, and high-strength steels tailored for automotive, machinery, construction, energy and infrastructure applications.