Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up – Here’s What Happened

Nitto Denko Corp. (OTCMKTS:NDEKY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $20.77, but opened at $21.64. Nitto Denko shares last traded at $21.51, with a volume of 2,388 shares changing hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut shares of Nitto Denko from a “strong-buy” rating to a “neutral” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Nitto Denko Stock Performance

The stock has a 50 day moving average of $21.24 and a 200 day moving average of $20.29. The stock has a market capitalization of $14.89 billion, a P/E ratio of 16.75 and a beta of 0.84.

Nitto Denko (OTCMKTS:NDEKY) last posted its earnings results on Tuesday, July 28th. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). Nitto Denko had a net margin of 12.94% and a return on equity of 12.13%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.60 billion. Nitto Denko has set its FY 2026 guidance at 1.335-1.335 EPS. On average, research analysts anticipate that Nitto Denko Corp. will post 1.3 EPS for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation is a Japan-based materials manufacturer that develops and produces specialty products for industrial, electronics, automotive, medical and other markets. The company is known for its expertise in adhesives, polymer processing, coating and materials engineering.

Its product portfolio includes industrial and electronic adhesive tapes, protective and release films, optical films used in displays, sealing and insulation materials, semiconductor-related products, flexible printed circuit materials, and medical and healthcare products.