Nidec (OTCMKTS:NJDCY) Sees Strong Trading Volume – Time to Buy?

Nidec Corp. (OTCMKTS:NJDCY) shares saw an uptick in trading volume on Friday . 65,320 shares traded hands during mid-day trading, an increase of 101% from the previous session’s volume of 32,564 shares.The stock last traded at $3.35 and had previously closed at $3.29.

Analysts Set New Price Targets

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

Nidec Stock Up 2.1%

The firm has a market capitalization of $32.06 billion, a PE ratio of 12.92 and a beta of 0.97. The business’s fifty day moving average price is $3.21 and its 200 day moving average price is $4.04. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nidec (OTCMKTS:NJDCY) last announced its earnings results on Friday, November 14th. The industrial goods maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Nidec had a net margin of 6.82% and a return on equity of 10.15%. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.29 billion. On average, equities research analysts forecast that Nidec Corp. will post 0.25 earnings per share for the current fiscal 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.