Nidec (OTCMKTS:NJDCY) Stock Price Up 8.4% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY)’s stock price shot up 8.4% during trading on Tuesday . The company traded as high as $4.50 and last traded at $4.50. 392 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 38,022 shares. The stock had previously closed at $4.15.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded Nidec from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Nidec Trading Up 6.7%

The company has a 50-day moving average of $3.58 and a 200 day moving average of $3.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market cap of $38.16 billion, a PE ratio of 15.39 and a beta of 1.25.

Nidec Company Profile

Nidec Corporation is a global manufacturer of electric motors and related systems, supplying components and finished products for a wide range of industries. The company is best known for its precision small motors used in computer hard-disk drives and other compact applications, and it has broadened its product portfolio to include motors, drives, controllers and mechatronic systems for consumer appliances, office automation, industrial equipment and automotive applications.

Its product range encompasses brushless DC motors, induction motors, servo systems, power electronics and complete motor-driven systems designed for energy efficiency and high performance.