Nidec (OTCMKTS:NJDCY) Shares Gap Up – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $2.70, but opened at $3.09. Nidec shares last traded at $3.10, with a volume of 3,888 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NJDCY. Zacks Research upgraded Nidec from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Macquarie lowered shares of Nidec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen raised shares of Nidec from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Nidec Trading Up 0.3%

The business has a 50-day moving average of $3.64 and a 200-day moving average of $4.42. The stock has a market capitalization of $29.67 billion, a price-to-earnings ratio of 11.96 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.53.

Nidec (OTCMKTS:NJDCY) last issued its quarterly earnings data on Friday, November 14th. The industrial goods maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Nidec had a net margin of 6.82% and a return on equity of 10.18%. As a group, research analysts forecast that Nidec Corp. will post 0.25 EPS for the current year.

About Nidec

Nidec Corporation, together with its subsidiaries, develops, manufactures, and sells motors, electronics and optical components, and other related products in Japan and internationally. The company offers medium- and large-size motors, small-size and precision motors, motor-related products, units and modules, automotive components, mechanical equipment/machine tools, inspection and measuring equipment, electronic devices, sensors, and other products, as well as mold, molding, cutting, and machining components.