Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down – What’s Next?

Nitto Denko Corp. (OTCMKTS:NDEKY) shares gapped down prior to trading on Monday. The stock had previously closed at $21.64, but opened at $20.57. Nitto Denko shares last traded at $21.03, with a volume of 445 shares changing hands.

Nitto Denko Stock Performance

The company has a market cap of $14.31 billion, a PE ratio of 15.74 and a beta of 0.83. The stock’s 50-day simple moving average is $22.03 and its 200 day simple moving average is $21.08.

Nitto Denko (OTCMKTS:NDEKY) last released its earnings results on Tuesday, October 27th. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Nitto Denko had a net margin of 13.15% and a return on equity of 12.22%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.87 billion. On average, sell-side analysts predict that Nitto Denko Corp. will post 1.30 EPS for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation is a Japanese materials and manufacturing company that develops and supplies high-performance products for industrial, electronic, automotive, life science and other applications. Founded in 1918, the company has expanded from its original focus on electrical insulation materials into a diversified global technology business.

Its product portfolio includes industrial and specialty adhesive tapes, protective films, sealing and insulation materials, optical films used in displays, flexible printed circuit materials, and materials for semiconductor manufacturing.