Nitto Denko (OTCMKTS:NDEKY) Trading Down 1.7% - Time to Sell?

Key Points

• Nitto Denko's share price fell 1.7% to close at $22.21, with a trading volume decline of 87% from its average daily volume.
• The company reported earnings of $0.32 EPS for the last quarter, which was significantly below analysts' expectations of $0.86 EPS, despite revenue slightly exceeding estimates at $1.66 billion.
• Nitto Denko specializes in the production of adhesive tapes and related products, serving markets across Japan, the Americas, Europe, Asia, and Oceania.

Nitto Denko Corp. (OTCMKTS:NDEKY - Get Free Report)'s share price was down 1.7% on Monday . The stock traded as low as $22.17 and last traded at $22.21. Approximately 10,636 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 80,071 shares. The stock had previously closed at $22.59.

Nitto Denko Stock Down 2.0%

The firm's 50-day simple moving average is $20.57 and its 200-day simple moving average is $19.16. The firm has a market capitalization of $15.90 billion, a PE ratio of 19.65 and a beta of 0.86.

Nitto Denko (OTCMKTS:NDEKY - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $1.64 billion. On average, equities research analysts forecast that Nitto Denko Corp. will post 1.23 earnings per share 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.