Nitto Denko (OTCMKTS:NDEKY) Trading Down 4.8% – What’s Next?

Nitto Denko Corp. (OTCMKTS:NDEKY)’s stock price was down 4.8% on Friday . The stock traded as low as $24.32 and last traded at $24.72. Approximately 851 shares were traded during trading, a decline of 98% from the average daily volume of 41,239 shares. The stock had previously closed at $25.96.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Nitto Denko from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Nitto Denko presently has an average rating of “Strong Buy”.

Nitto Denko Stock Down 7.0%

The firm’s fifty day moving average is $23.19 and its 200 day moving average is $20.06.

Nitto Denko (OTCMKTS:NDEKY) last issued its quarterly earnings results on Monday, July 28th. The technology company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.54). The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. As a group, analysts expect that Nitto Denko Corp. will post 1.23 earnings per share for the current year.

About Nitto Denko

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.