Nitto Denko (OTCMKTS:NDEKY) Sees Strong Trading Volume – Here’s Why

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY) saw an uptick in trading volume on Thursday . 98,461 shares changed hands during mid-day trading, an increase of 150% from the previous session’s volume of 39,411 shares.The stock last traded at $25.79 and had previously closed at $25.66.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised Nitto Denko from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Nitto Denko has a consensus rating of “Strong Buy”.

Nitto Denko Stock Up 1.0%

The firm has a market capitalization of $17.44 billion, a P/E ratio of 20.73 and a beta of 0.94. The business’s 50-day simple moving average is $24.49 and its 200 day simple moving average is $21.36.

Nitto Denko Company Profile

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.