Nidec (OTCMKTS:NJDCY) Shares Gap Up – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY) gapped up before the market opened on Wednesday . The stock had previously closed at $2.70, but opened at $3.09. Nidec shares last traded at $3.10, with a volume of 3,888 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Zacks Research raised shares of Nidec from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Macquarie cut Nidec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen upgraded Nidec from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Nidec Stock Down 16.9%

The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $4.40. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 10.39 and a beta of 0.98.

Nidec (OTCMKTS:NJDCY) last announced its quarterly earnings results on Friday, November 14th. The industrial goods maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.29 billion. Nidec had a net margin of 6.82% and a return on equity of 10.18%. Equities analysts expect that Nidec Corp. will post 0.25 EPS for the current year.

Nidec Company Profile

Nidec Corporation, together with its subsidiaries, develops, manufactures, and sells motors, electronics and optical components, and other related products in Japan and internationally. The company offers medium- and large-size motors, small-size and precision motors, motor-related products, units and modules, automotive components, mechanical equipment/machine tools, inspection and measuring equipment, electronic devices, sensors, and other products, as well as mold, molding, cutting, and machining components.