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

Nidec Corp. (OTCMKTS:NJDCY) 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 Trading Up 9.5%

The stock’s 50 day moving average price is $4.02 and its two-hundred day moving average price is $3.94. The firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of -4.30 and a beta of 1.33.

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

About Nidec

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.