Nidec (OTCMKTS:NJDCY) Stock Price Up 8% – Time to Buy?

Nidec Corp. (OTCMKTS:NJDCY) rose 8% on Tuesday . The stock traded as high as $3.27 and last traded at $3.25. Approximately 32,385 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 313,392 shares. The stock had previously closed at $3.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Macquarie cut shares of Nidec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Zacks Research upgraded shares of Nidec from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Nidec presently has an average rating of “Hold”.

Nidec Stock Up 0.6%

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $3.33 and a 200 day simple moving average of $4.25. The firm has a market capitalization of $31.20 billion, a PE ratio of 12.58 and a beta of 0.98.

Nidec (OTCMKTS:NJDCY) last issued its earnings results on Friday, November 14th. The industrial goods maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Nidec had a return on equity of 10.15% and a net margin of 6.82%. As a group, sell-side analysts forecast that Nidec Corp. will post 0.25 earnings per share for the current year.

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.