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

Nippon Steel & Sumitomo Metal Corp. (OTCMKTS:NPSCY) gapped down before the market opened on Tuesday. The stock had previously closed at $4.22, but opened at $4.0750. Nippon Steel & Sumitomo Metal shares last traded at $4.2350, with a volume of 41,472 shares traded.

Nippon Steel & Sumitomo Metal Price Performance

The business’s 50 day moving average is $4.30 and its 200-day moving average is $3.95. The firm has a market capitalization of $22.89 billion, a P/E ratio of -213.00 and a beta of 0.61. The company has a quick ratio of 0.81, a current ratio of 1.71 and a debt-to-equity ratio of 0.78.

Nippon Steel & Sumitomo Metal (OTCMKTS:NPSCY) last released its earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $16.70 billion.

Nippon Steel & Sumitomo Metal Company Profile

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.