Nidec (OTCMKTS:NJDCY) Shares Gap Up - Here's What Happened

Key Points

• Nidec shares gapped up before trading on Friday, opening at $3.79 versus the prior close of $3.59 and last trading at $3.79 on light volume (562 shares).
• Citigroup downgraded Nidec from "strong-buy" to "hold" on April 13, and the stock now carries an average analyst rating of "Hold" from three analysts.
• The stock trades near its 50‑day ($3.50) and 200‑day ($3.44) moving averages, with a market capitalization of $35.87 billion, a P/E of 14.46, low debt-to-equity (0.26), and a current ratio of 1.61.

Nidec Corp. (OTCMKTS:NJDCY - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $3.59, but opened at $3.79. Nidec shares last traded at $3.79, with a volume of 562 shares changing hands.

Analysts Set New Price Targets

Separately, Citigroup lowered shares of Nidec from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Nidec Price Performance

The company's 50 day moving average is $3.50 and its 200 day moving average is $3.44. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $35.87 billion, a price-to-earnings ratio of 14.46 and a beta of 1.07.

About Nidec

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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