Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down - Time to Sell?

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 traded.

Nitto Denko Stock Performance

The company has a market capitalization of $15.70 billion, a PE ratio of 18.66 and a beta of 0.86. The business's 50-day moving average is $19.17 and its 200-day moving average is $18.68.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last released its quarterly 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. Analysts expect 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.