NEC (OTCMKTS:NIPNF) Shares Down 12.3% – Here’s Why

NEC Co. (OTCMKTS:NIPNF) shares fell 12.3% during trading on Wednesday . The company traded as low as $28.40 and last traded at $28.40. Approximately 1,076 shares traded hands during trading, a decline of 95% from the average daily volume of 19,682 shares. The stock had previously closed at $32.40.

Analyst Ratings Changes

Separately, Sanford C. Bernstein started coverage on NEC in a research report on Tuesday, September 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NEC has an average rating of “Buy”.

NEC Stock Performance

The stock has a market cap of $7.40 billion, a P/E ratio of 17.32 and a beta of -0.47. The firm has a 50-day moving average price of $30.24 and a 200-day moving average price of $27.60.

About NEC

NEC Corporation is a Japan-based technology company that provides information technology, communications, and network solutions to governments, businesses, and other organizations. Its offerings include systems integration, cloud and digital services, cybersecurity, data analytics, software, and information and communications technology infrastructure.

The company also develops telecommunications equipment and services, including network platforms, wireless systems, optical and submarine communications networks, and technologies supporting 5G and other advanced communications applications.