Nitto Denko Co. (OTCMKTS:NDEKY) Sees Significant Drop in Short Interest

Nitto Denko Co. (OTCMKTS:NDEKY) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 29,700 shares, a decline of 25.0% from the October 31st total of 39,600 shares. Based on an average daily trading volume, of 56,300 shares, the short-interest ratio is presently 0.5 days.

Nitto Denko Stock Up 1.6 %

NDEKY traded up $0.25 during trading hours on Friday, reaching $15.89. 9,902 shares of the company’s stock traded hands, compared to its average volume of 30,460. The firm has a 50-day moving average price of $20.13 and a 200 day moving average price of $32.95. The firm has a market capitalization of $11.23 billion, a PE ratio of 13.60 and a beta of 0.93. Nitto Denko has a 52-week low of $12.80 and a 52-week high of $19.43.

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.