Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) Shares Gap Down – Here’s Why

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) shares gapped down prior to trading on Monday. The stock had previously closed at $4.1802, but opened at $4.00. Nippon Steel & Sumitomo Metal shares last traded at $4.22, with a volume of 17,942 shares traded.

Nippon Steel & Sumitomo Metal Price Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.71. The firm has a 50-day moving average price of $4.29 and a 200 day moving average price of $3.96. The stock has a market capitalization of $22.73 billion, a P/E ratio of -211.50 and a beta of 0.61.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last posted 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 firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $16.70 billion.

About Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal Corporation was a major Japanese steelmaker formed in 2012 through the merger of Nippon Steel Corporation and Sumitomo Metal Industries. In 2019, the company changed its name to Nippon Steel Corporation, while continuing the operations and businesses associated with the former Nippon Steel & Sumitomo Metal organization.

The company produces a broad range of steel products, including sheets, plates, bars, wire rods, pipes, tubes and specialty steels.