Nidec (OTCMKTS:NJDCY) Shares Gap Up – Still a Buy?

Nidec Corp. (OTCMKTS:NJDCY)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $2.75, but opened at $3.10. Nidec shares last traded at $3.01, with a volume of 8,466 shares traded.

Nidec Stock Performance

The firm has a 50 day simple moving average of $4.00 and a 200-day simple moving average of $3.94.

Nidec (OTCMKTS:NJDCY) last announced its quarterly earnings results on Wednesday, September 30th. The industrial goods maker reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.15 billion. Nidec had a negative net margin of 17.80% and a negative return on equity of 29.23%.

Nidec Company Profile

Nidec Corporation is a Japan-based manufacturer of electric motors and related components. The company develops and produces precision small motors, automotive motors, appliance and commercial motors, and industrial motors used in a broad range of equipment and applications.

Its products also include motor systems, reducers, fans, electronic and optical components, and machinery used in manufacturing. Nidec serves customers in sectors such as information technology, automotive, home appliances, office equipment, industrial automation, and renewable energy.

Founded in 1973 by Shigenobu Nagamori, Nidec has expanded from a precision small-motor business into a global manufacturing group with operations and customers across Asia, the Americas, Europe, and other international markets.