Nidec (OTCMKTS:NJDCY) Stock Falls 17% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY) traded down 17% on Thursday. The company traded as low as $2.20 and last traded at $2.20. Approximately 11,356 shares changed hands during trading, a decline of 58% from the average daily volume of 26,782 shares. The stock had previously closed at $2.65.

Nidec Price Performance

The firm has a market capitalization of $23.85 billion, a P/E ratio of -3.57 and a beta of 1.33. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $3.76 and its 200 day moving average is $3.91.

Nidec (OTCMKTS:NJDCY) last released its quarterly earnings results on Wednesday, September 30th. The industrial goods maker reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nidec had a negative net margin of 17.80% and a negative return on equity of 33.77%. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.15 billion.

Nidec Company Profile

Nidec Corporation is a Japan-based manufacturer of electric motors and related components. The company develops precision motors used in hard disk drives, optical disk drives, smartphones, cameras, and other electronic equipment, as well as motors and systems for automobiles, household appliances, commercial equipment, industrial machinery, and robotics.

Founded in 1973 by Shigenobu Nagamori, Nidec has expanded from a specialist producer of small precision motors into a diversified global motor and motion-control company.