Furukawa Electric Co., Ltd. (OTCMKTS:FUWAY) Shares Shorted: Short Interest Down 76.8% in October

Furukawa Electric Co., Ltd. (OTCMKTS:FUWAY) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 66,705 shares, a drop of 76.8% from the September 30th total of 288,030 shares. Based on an average daily trading volume, of 315,833 shares, the days-to-cover ratio is presently 0.2 days.

Furukawa Electric Stock Performance

OTCMKTS FUWAY opened at $9.66 on Friday. The stock’s 50 day moving average price is $11.95 and its two-hundred day moving average price is $71.95. Furukawa Electric has a 52 week low of $2.90 and a 52 week high of $19.07.

About Furukawa Electric

Furukawa Electric Co, Ltd. is a Japanese manufacturer of infrastructure, communications and industrial products. The company develops and produces optical fiber, fiber-optic cables, network equipment and related components used in telecommunications and data communications. It also supplies power cables, energy infrastructure products and electrical components for utility and industrial applications.

Furukawa Electric serves the automotive industry with products such as wiring harnesses, electrical and electronic components, and related systems.