Nintendo (OTCMKTS:NTDOY) Sees Strong Trading Volume - Time to Buy?

Nintendo Co. (OTCMKTS:NTDOY - Get Free Report) saw an uptick in trading volume on Friday . 1,550,161 shares were traded during mid-day trading, a decline of 24% from the previous session's volume of 2,050,708 shares.The stock last traded at $21.80 and had previously closed at $22.01.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NTDOY. Citigroup began coverage on shares of Nintendo in a report on Friday, May 2nd. They set a "buy" rating on the stock. Benchmark upgraded shares of Nintendo to a "strong-buy" rating in a research report on Monday, May 19th. The Goldman Sachs Group initiated coverage on shares of Nintendo in a research note on Tuesday, March 25th. They issued a "buy" rating on the stock. Finally, Wedbush raised shares of Nintendo to a "strong-buy" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

Nintendo Price Performance

The company's 50 day moving average price is $21.33 and its two-hundred day moving average price is $18.85. The stock has a market capitalization of $114.02 billion, a PE ratio of 56.28 and a beta of 0.63.

Nintendo (OTCMKTS:NTDOY - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Nintendo had a net margin of 23.81% and a return on equity of 10.51%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $215.06 billion. Analysts forecast that Nintendo Co. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Nintendo

A number of institutional investors have recently bought and sold shares of NTDOY. Azimuth Capital Investment Management LLC acquired a new stake in shares of Nintendo during the first quarter valued at about $8,323,000. GAMMA Investing LLC increased its position in shares of Nintendo by 2,029.9% during the first quarter. GAMMA Investing LLC now owns 275,785 shares of the company's stock valued at $4,735,000 after acquiring an additional 262,837 shares during the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Nintendo during the fourth quarter valued at about $605,000. Appleton Partners Inc. MA increased its position in shares of Nintendo by 1.5% during the first quarter. Appleton Partners Inc. MA now owns 130,744 shares of the company's stock valued at $2,245,000 after acquiring an additional 1,969 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Nintendo by 192.5% during the first quarter. First Horizon Advisors Inc. now owns 1,825 shares of the company's stock valued at $31,000 after acquiring an additional 1,201 shares during the last quarter. 0.02% of the stock is owned by hedge funds and other institutional investors.

About Nintendo

Nintendo Co, Ltd., together with its subsidiaries, develops, manufactures, and sells home entertainment products in Japan, the Americas, Europe, and internationally. It also offers video game platforms, playing cards, Karuta, and other products; and handheld and home console hardware systems and related software.