Kobe Steel, Ltd. (OTCMKTS:KBSTF) Sees Large Decrease in Short Interest

Kobe Steel, Ltd. (OTCMKTS:KBSTF) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,834,300 shares, a drop of 19.6% from the February 28th total of 3,524,700 shares. Based on an average trading volume of 800 shares, the days-to-cover ratio is presently 3,542.9 days.

Kobe Steel Stock Performance

Kobe Steel stock remained flat at $13.80 during midday trading on Tuesday. Kobe Steel has a 1 year low of $9.65 and a 1 year high of $13.80. The stock’s fifty day simple moving average is $11.02 and its two-hundred day simple moving average is $10.82.

About Kobe Steel

Kobe Steel, Ltd. engages in the materials, machinery, and electric power businesses worldwide. The company offers steel sheet products, including high-tensile strength, hot and cold rolled, electro-galvanized, and hot-dipped galvanized steel sheets; steel wire rods and bars; and aluminum and steel plates.