Nidec (OTCMKTS:NJDCY) Stock Price Down 8.2% – Here’s Why

Nidec Corp. (OTCMKTS:NJDCY)’s share price was down 8.2% on Friday. The stock traded as low as $3.01 and last traded at $3.01. 1,771 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 26,591 shares. The stock had previously closed at $3.28.

Nidec Trading Down 3.0%

The company has a market cap of $30.34 billion, a price-to-earnings ratio of -4.54 and a beta of 1.33. The stock has a 50-day simple moving average of $4.05 and a 200-day simple moving average of $3.94.

Nidec (OTCMKTS:NJDCY) last released its earnings results on Wednesday, September 30th. The industrial goods maker reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nidec had a negative return on equity of 27.00% and a negative net margin of 17.80%.The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.15 billion.

Nidec Company Profile

Nidec Corporation is a Japan-based manufacturer of electric motors and related components. The company develops and produces precision small motors, automotive motors, appliance and commercial motors, and industrial motors used in a broad range of equipment and applications.

Its products also include motor systems, reducers, fans, electronic and optical components, and machinery used in manufacturing. Nidec serves customers in sectors such as information technology, automotive, home appliances, office equipment, industrial automation, and renewable energy.

Founded in 1973 by Shigenobu Nagamori, Nidec has expanded from a precision small-motor business into a global manufacturing group with operations and customers across Asia, the Americas, Europe, and other international markets.