Shares of Nidec Corp. (OTCMKTS:NJDCY – Get Free Report) dropped 27.1% during mid-day trading on Thursday. The company traded as low as $2.80 and last traded at $2.80. Approximately 9,670 shares were traded during trading, a decline of 63% from the average daily volume of 26,386 shares. The stock had previously closed at $3.84.
Nidec Stock Performance
The company’s 50 day moving average price is $3.99 and its 200-day moving average price is $3.94. The company has a market cap of $26.24 billion, a price-to-earnings ratio of -3.93 and a beta of 1.33.
Nidec (OTCMKTS:NJDCY – Get Free Report) last issued its quarterly earnings results on Wednesday, September 30th. The industrial goods maker reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations 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.
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