Posted by admin on Jun 10th, 2022
Nitto Denko Co. (OTCMKTS:NDEKY – Get Rating) saw a large drop in short interest in May. As of May 31st, there was short interest totalling 3,500 shares, a drop of 82.1% from the May 15th total of 19,600 shares. Based on an average trading volume of 32,600 shares, the days-to-cover ratio is currently 0.1 days.
Separately, Zacks Investment Research raised Nitto Denko from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, May 12th.
NDEKY traded down $0.52 during midday trading on Friday, hitting $36.06. 4,805 shares of the company were exchanged, compared to its average volume of 14,893. The firm has a market capitalization of $10.80 billion, a P/E ratio of 12.31 and a beta of 1.15. Nitto Denko has a 1-year low of $32.18 and a 1-year high of $44.24. The firm’s 50 day moving average price is $34.81 and its 200-day moving average price is $36.29.
About Nitto Denko (Get Rating)
Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan and internationally. It provides double sided tapes, surface protective films, sealing materials/NVH related products, 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.
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