Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up – Time to Buy?

Nitto Denko Corp. (OTCMKTS:NDEKY)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $20.84, but opened at $23.11. Nitto Denko shares last traded at $22.4850, with a volume of 289 shares trading hands.

Nitto Denko Stock Performance

The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 16.43 and a beta of 0.82. The business has a 50-day simple moving average of $22.02 and a two-hundred day simple moving average of $21.04.

Nitto Denko (OTCMKTS:NDEKY) last released its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. Nitto Denko had a return on equity of 12.22% and a net margin of 13.15%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Research analysts predict that Nitto Denko Corp. will post 1.36 EPS for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation is a Japanese materials and manufacturing company that develops and supplies high-performance products for industrial, electronic, automotive, life science and other applications. Founded in 1918, the company has expanded from its original focus on electrical insulation materials into a diversified global technology business.

Its product portfolio includes industrial and specialty adhesive tapes, protective films, sealing and insulation materials, optical films used in displays, flexible printed circuit materials, and materials for semiconductor manufacturing.