Furukawa Electric Co., Ltd. (OTCMKTS:FUWAY) Sees Large Increase in Short Interest

Furukawa Electric Co., Ltd. (OTCMKTS:FUWAY) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 345,697 shares, a growth of 830.9% from the July 30th total of 37,134 shares. Based on an average daily volume of 320,848 shares, the days-to-cover ratio is currently 1.1 days.

Furukawa Electric Stock Down 3.7%

FUWAY stock traded down $0.46 during midday trading on Wednesday, hitting $12.12. The stock had a trading volume of 9,364 shares, compared to its average volume of 86,987. Furukawa Electric has a 52 week low of $2.90 and a 52 week high of $19.07. The stock has a 50-day simple moving average of $56.12 and a 200 day simple moving average of $97.33.

About Furukawa Electric

Furukawa Electric Co, Ltd. is a Tokyo-based Japanese manufacturer providing a diverse range of electric wires, cables and high-tech components. Its core offerings include power transmission cables, optical fiber communication systems, copper wire rods, magnet wires, automotive wiring harnesses and electronic device packaging, serving sectors such as utilities, telecommunications, automotive and consumer electronics.

Established in 1884 during Japan’s Meiji period, Furukawa Electric is a key member of the Furukawa Group conglomerate.