Short Interest in Nippon Steel Co. (OTCMKTS:NISTF) Drops By 21.8%

Nippon Steel Co. (OTCMKTS:NISTF) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,586,200 shares, a drop of 21.8% from the September 15th total of 2,027,300 shares. Based on an average trading volume of 100 shares, the short-interest ratio is presently 15,862.0 days.

Separately, Goldman Sachs Group raised Nippon Steel from a “neutral” rating to a “buy” rating in a report on Friday, July 31st.

OTCMKTS NISTF remained flat at $$10.00 on Friday. The company has a fifty day moving average of $8.63 and a 200-day moving average of $9.14. Nippon Steel has a 1-year low of $7.97 and a 1-year high of $15.31.

Nippon Steel (OTCMKTS:NISTF) last issued its earnings results on Tuesday, August 4th. The company reported ($0.42) earnings per share for the quarter. The business had revenue of $10.52 billion during the quarter.

Nippon Steel Company Profile

Nippon Steel Corporation, together with its subsidiaries, engages in steelmaking and steel fabrication, engineering and construction, chemicals and materials, and system solutions businesses in Japan and internationally. The Steelmaking and Steel Fabrication segment offers steel plates and sheets; bars, beams, shapes, and rods; pipes and tubes; railway, automotive, and machinery parts; and stainless steel and titanium.

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