Nitto Denko (OTCMKTS:NDEKY) Hits New 12-Month High – Time to Buy?

Nitto Denko Corp. (OTCMKTS:NDEKY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $26.06 and last traded at $25.85, with a volume of 15783 shares. The stock had previously closed at $25.87.

Analyst Ratings Changes

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

Nitto Denko Trading Down 0.1%

The stock’s 50-day simple moving average is $22.93 and its 200-day simple moving average is $19.94.

Nitto Denko (OTCMKTS:NDEKY) last issued its quarterly earnings data on Monday, July 28th. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.54). The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. As a group, equities research analysts predict that Nitto Denko Corp. will post 1.23 earnings per share for the current year.

About Nitto Denko

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.