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

Key Points

• Nitto Denko Corp.'s stock price gapped up from $22.95 to $23.79 but last traded at $22.79 with a volume of 527 shares.
• The company reported quarterly earnings of $0.32 per share, significantly missing analyst estimates of $0.86, despite revenue meeting expectations at $1.66 billion.
• Nitto Denko has a market capitalization of $15.94 billion and operates primarily in the adhesive tapes business across multiple regions including Japan, the Americas, and Europe.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $22.95, but opened at $23.79. Nitto Denko shares last traded at $22.79, with a volume of 527 shares.

Nitto Denko Trading Up 0.6%

The firm's fifty day moving average is $20.77 and its 200-day moving average is $19.21.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.54). The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.64 billion. As a group, analysts predict that Nitto Denko Corp. will post 1.23 EPS 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.