Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down - Here's What Happened

Key Points

• Nitto Denko's shares gapped down significantly from a closing price of $23.61 to an opening price of $21.57 during trading on Wednesday.
• The company's recent quarterly earnings reported an EPS of $0.32, which missed the consensus estimate of $0.86 by $0.54.
• Nitto Denko has a market capitalization of $16.65 billion and is primarily engaged in the adhesive tapes business across various regions, including Japan and the Americas.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $23.61, but opened at $21.57. Nitto Denko shares last traded at $23.60, with a volume of 372 shares trading hands.

Nitto Denko Stock Down 0.2%

The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 20.16 and a beta of 0.85. The company's 50 day simple moving average is $22.52 and its two-hundred day simple moving average is $19.76.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. Analysts anticipate that Nitto Denko Corp. will post 1.23 EPS for the current year.

About Nitto Denko

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.

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