Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down – Here’s Why

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY) gapped down prior to trading on Monday. The stock had previously closed at $21.64, but opened at $20.57. Nitto Denko shares last traded at $21.03, with a volume of 445 shares trading hands.

Nitto Denko Trading Down 0.6%

The business has a 50-day moving average price of $22.01 and a two-hundred day moving average price of $21.05. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of 15.65 and a beta of 0.82.

Nitto Denko (OTCMKTS:NDEKY) last released its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.87 billion. Nitto Denko had a return on equity of 12.22% and a net margin of 13.15%. On average, equities research analysts predict that Nitto Denko Corp. will post 1.36 earnings per share for the current fiscal year.

Nitto Denko Company Profile

Nitto Denko Corporation is a Japanese materials and manufacturing company that develops and supplies high-performance products for industrial, electronic, automotive, life science and other applications. Founded in 1918, the company has expanded from its original focus on electrical insulation materials into a diversified global technology business.

Its product portfolio includes industrial and specialty adhesive tapes, protective films, sealing and insulation materials, optical films used in displays, flexible printed circuit materials, and materials for semiconductor manufacturing.