Nitto Denko (OTCMKTS:NDEKY) Sees Large Volume Increase - Should You Buy?

Key Points

• Nitto Denko Corp. experienced a significant trading volume increase of 797%, with 384,119 shares traded compared to the previous session.
• The stock price rose 2.5% to $22.72, up from a prior close of $22.32.
• Nitto Denko reported an earnings per share of $0.32, missing analysts' estimates of $0.86, despite revenue surpassing expectations at $1.66 billion.

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report) saw strong trading volume on Tuesday . 384,119 shares traded hands during mid-day trading, an increase of 797% from the previous session's volume of 42,829 shares.The stock last traded at $22.72 and had previously closed at $22.32.

Nitto Denko Stock Up 2.5%

The stock has a 50 day moving average price of $19.34 and a 200 day moving average price of $18.77.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last issued its earnings results on Monday, July 28th. The technology company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.54). The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.64 billion. On average, research analysts forecast that Nitto Denko Corp. will post 1.23 earnings per share for the current fiscal year.

Nitto Denko Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.