Nidec (OTCMKTS:NJDCY) Shares Down 19.1% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY) traded down 19.1% during mid-day trading on Tuesday . The stock traded as low as $3.52 and last traded at $3.52. 7,088 shares traded hands during trading, a decline of 82% from the average session volume of 39,329 shares. The stock had previously closed at $4.35.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of Nidec from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Nidec Trading Down 8.0%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.06 and a current ratio of 1.61. The stock’s 50-day simple moving average is $3.54 and its 200-day simple moving average is $3.43. The firm has a market capitalization of $38.16 billion, a PE ratio of 15.39 and a beta of 1.25.

About Nidec

Nidec Corporation is a global manufacturer of electric motors and related systems, supplying components and finished products for a wide range of industries. The company is best known for its precision small motors used in computer hard-disk drives and other compact applications, and it has broadened its product portfolio to include motors, drives, controllers and mechatronic systems for consumer appliances, office automation, industrial equipment and automotive applications.

Its product range encompasses brushless DC motors, induction motors, servo systems, power electronics and complete motor-driven systems designed for energy efficiency and high performance.