Nidec (OTCMKTS:NJDCY) Shares Up 9.7% – Here’s What Happened

Shares of Nidec Corp. (OTCMKTS:NJDCY) were up 9.7% during mid-day trading on Tuesday . The company traded as high as $3.63 and last traded at $3.61. Approximately 14,694 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 57,845 shares. The stock had previously closed at $3.29.

Analysts Set New Price Targets

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

Nidec Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.06 and a current ratio of 1.61. The business’s 50-day moving average is $3.21 and its 200-day moving average is $4.01. The company has a market capitalization of $34.35 billion, a PE ratio of 13.85 and a beta of 0.97.

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 analysts’ consensus estimates of $0.07 by ($0.01). Nidec had a net margin of 6.82% and a return on equity of 10.15%. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.29 billion. On average, research analysts anticipate 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.