Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up – Still a Buy?

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY) gapped up prior to trading on Friday . The stock had previously closed at $22.02, but opened at $23.1099. Nitto Denko shares last traded at $22.3150, with a volume of 11,746 shares.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Nitto Denko from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Nitto Denko presently has an average rating of “Strong Buy”.

Nitto Denko Stock Up 0.8%

The company’s 50-day simple moving average is $23.84 and its 200 day simple moving average is $23.43. The stock has a market capitalization of $15.07 billion, a price-to-earnings ratio of 16.82 and a beta of 0.88.

Nitto Denko (OTCMKTS:NDEKY) last released its quarterly earnings results on Monday, January 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Nitto Denko had a return on equity of 12.78% and a net margin of 13.14%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.64 billion. On average, equities analysts expect that Nitto Denko Corp. will post 1.23 earnings per share for the current fiscal year.

Nitto Denko Company Profile

Nitto Denko Corporation, trading over‐the‐counter in the U.S. under the symbol NDEKY, is a Japan‐based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.

The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.