Nidec (OTCMKTS:NJDCY) Shares Gap Up – Here’s Why

Nidec Corp. (OTCMKTS:NJDCY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $2.70, but opened at $3.2950. Nidec shares last traded at $3.35, with a volume of 11,889 shares changing hands.

Wall Street Analyst Weigh In

Separately, Macquarie downgraded shares of Nidec from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Nidec presently has a consensus rating of “Hold”.

Nidec Price Performance

The firm has a fifty day moving average price of $3.21 and a two-hundred day moving average price of $4.05. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $31.77 billion, a P/E ratio of 12.81 and a beta of 0.97.

Nidec (OTCMKTS:NJDCY) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.29 billion. Nidec had a net margin of 6.82% and a return on equity of 10.15%. On average, analysts expect that Nidec Corp. will post 0.25 EPS 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.