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

Key Points

• Nitto Denko Corp. experienced a significant gap down in its stock price, opening at $20.41 after closing at $21.27.
• The company's recent quarterly earnings report indicated an earnings per share (EPS) of $0.32, which fell short of analysts' expectations of $0.86.
• Nitto Denko reported revenue of $1.66 billion, slightly above the consensus estimate of $1.64 billion for the quarter.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $21.27, but opened at $20.41. Nitto Denko shares last traded at $21.59, with a volume of 156 shares trading hands.

Nitto Denko Stock Up 0.7%

The stock has a fifty day moving average of $18.91 and a 200-day moving average of $18.58.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The technology company reported $0.32 earnings per share (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 the consensus estimate of $1.64 billion. As a group, research analysts anticipate that Nitto Denko Corp. will post 1.23 EPS for the current 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.

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