Short Interest in Renesas Electronics Co. (OTCMKTS:RNECY) Drops By 85.4%

Renesas Electronics Co. (OTCMKTS:RNECY) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 58,866 shares, a drop of 85.4% from the June 30th total of 402,242 shares. Based on an average trading volume of 1,186,403 shares, the days-to-cover ratio is presently 0.0 days.

Renesas Electronics Trading Down 4.8%

Shares of RNECY opened at $11.81 on Friday. Renesas Electronics has a fifty-two week low of $5.50 and a fifty-two week high of $16.20. The business’s 50-day moving average is $13.74 and its 200-day moving average is $10.43.

Renesas Electronics (OTCMKTS:RNECY) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.82 by ($29.70). The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $373.76 billion.

Renesas Electronics Company Profile

Renesas Electronics (OTCMKTS:RNECY) is a global semiconductor manufacturer specializing in microcontrollers, system-on-chip (SoC) devices, analog and power management solutions. The company’s products are designed to address a wide range of applications in automotive electronics, industrial automation, consumer devices, and communications infrastructure. Renesas leverages its expertise in embedded processing and mixed-signal technologies to deliver integrated solutions that help customers reduce development time and improve energy efficiency.

The company’s product portfolio includes 32-bit and 16-bit microcontrollers, application processors, analog and power discrete devices, and sensor interface ICs.