Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up - Should You Buy?

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)'s stock price gapped up prior to trading 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 changing hands.

Nitto Denko Stock Performance

The business's 50 day simple moving average is $20.48 and its 200-day simple moving average is $19.14. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 19.38 and a beta of 0.86.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The technology company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.54). The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. As a group, sell-side 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.

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