Nidec (OTCMKTS:NJDCY) Stock Falls 13% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY) was down 13% on Wednesday. The company traded as low as $2.21 and last traded at $2.21. 5,869 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 26,745 shares. The stock had previously closed at $2.54.

Nidec Price Performance

The firm’s 50-day moving average is $3.48 and its 200-day moving average is $3.75. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $25.28 billion, a PE ratio of -3.79 and a beta of 1.41.

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

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.