Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down – Here’s Why

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY) gapped down before the market opened on Tuesday . The stock had previously closed at $24.02, but opened at $23.19. Nitto Denko shares last traded at $24.12, with a volume of 3,574 shares.

Analyst Upgrades and Downgrades

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

Nitto Denko Stock Performance

The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 19.53 and a beta of 0.88. The firm has a fifty day moving average of $24.57 and a 200-day moving average of $22.55.

About Nitto Denko

Nitto Denko Corporation, trading over‐the‐counter in the U.S. under the symbol NDEKY, is a Japan‐based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.

The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.