Nitto Denko (OTCMKTS:NDEKY) Sees Strong Trading Volume - Time to 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.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 384,119 shares traded hands during 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 1.0%

The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 19.86 and a beta of 0.86. The company's 50-day simple moving average is $19.70 and its 200 day simple moving average is $18.88.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last posted its earnings results on Monday, July 28th. The technology company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.54). The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.64 billion. On average, equities analysts expect 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.