Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up – Still a Buy?

Nitto Denko Corp. (OTCMKTS:NDEKY) shares gapped up before the market opened on Monday . The stock had previously closed at $23.09, but opened at $24.32. Nitto Denko shares last traded at $24.1120, with a volume of 222 shares.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded 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, According to MarketBeat, Nitto Denko currently has a consensus rating of “Strong Buy”.

Nitto Denko Trading Up 0.6%

The firm has a market capitalization of $16.51 billion, a P/E ratio of 19.62 and a beta of 0.94. The stock’s 50-day simple moving average is $24.57 and its 200-day simple moving average is $21.71.

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.