NEC Co. (OTCMKTS:NIPNF) Sees Significant Drop in Short Interest

NEC Co. (OTCMKTS:NIPNF) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 252,720 shares, a decline of 70.7% from the May 14th total of 861,716 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 31,723 shares, the days-to-cover ratio is presently 8.0 days.

NEC Price Performance

Shares of NIPNF stock traded up $0.53 during trading on Thursday, hitting $24.90. 16,208 shares of the stock traded hands, compared to its average volume of 21,438. The firm has a market capitalization of $6.49 billion, a P/E ratio of 15.18 and a beta of -0.47. NEC has a 52-week low of $22.85 and a 52-week high of $41.00. The firm’s fifty day moving average price is $26.49 and its 200-day moving average price is $30.40.

NEC Company Profile

NEC Corporation, traded as NIPNF on the OTC Markets, is a Tokyo-based multinational technology company founded in 1899 as Nippon Electric Company. Over more than a century of operations, NEC has established itself as a leading provider of information and communications technology (ICT) solutions for both public and private sector clients.

The company’s core business activities span network infrastructure, enterprise IT systems, and software integration. NEC delivers end-to-end solutions in areas such as telecommunications networks, data center platforms, and cybersecurity services.