NEC (OTCMKTS:NIPNF) Stock Jumps 6.7% – Here’s What Happened

Shares of NEC Co. (OTCMKTS:NIPNF) rose 6.7% during mid-day trading on Wednesday. The stock traded as high as $30.30 and last traded at $30.30. Approximately 2,481 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 19,396 shares. The stock had previously closed at $28.40.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein started coverage on NEC in a report on Tuesday, September 15th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, NEC currently has an average rating of “Buy”.

NEC Stock Up 0.7%

The business’s fifty day moving average is $30.40 and its two-hundred day moving average is $27.69. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 18.48 and a beta of -0.47.

About NEC

NEC Corporation, formerly known as Nippon Electric Company, is a Japanese information technology and telecommunications company founded in 1899. The company develops and provides technology products, systems and services for businesses, governments and telecommunications providers.

NEC’s activities include information technology services, enterprise software, cloud and digital transformation solutions, telecommunications networks, cybersecurity, biometric identification, data analytics and artificial intelligence.