Shares of Nidec Corp. (OTCMKTS:NJDCY – Get Free Report) shot up 9.9% during mid-day trading on Wednesday . The company traded as high as $3.90 and last traded at $3.90. Approximately 687 shares were traded during trading, a decline of 98% from the average daily volume of 32,825 shares. The stock had previously closed at $3.55.
Analyst Upgrades and Downgrades
Separately, Citigroup downgraded Nidec from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Nidec currently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on Nidec
Nidec Trading Up 7.2%
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.
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