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

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY) gapped up prior to trading on Friday . The stock had previously closed at $23.78, but opened at $24.87. Nitto Denko shares last traded at $23.7490, with a volume of 6,374 shares traded.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Nitto Denko from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Nitto Denko presently has an average rating of “Strong Buy”.

Nitto Denko Trading Down 0.3%

The firm has a market cap of $16.09 billion, a PE ratio of 19.12 and a beta of 0.88. The business’s 50-day simple moving average is $24.15 and its 200 day simple moving average is $23.15.

About Nitto Denko

Nitto Denko Corporation, trading over?the?counter in the U.S. under the symbol NDEKY, is a Japan?based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.

The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.