Nikon (OTCMKTS:NINOY) Shares Gap Up – Here’s Why

Shares of Nikon Corp. (OTCMKTS:NINOY) gapped up prior to trading on Monday . The stock had previously closed at $11.12, but opened at $11.55. Nikon shares last traded at $11.9445, with a volume of 401 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NINOY. Zacks Research lowered shares of Nikon from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Jefferies Financial Group downgraded shares of Nikon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce”.

Nikon Stock Up 6.9%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 1.98. The firm’s fifty day simple moving average is $11.75 and its 200 day simple moving average is $10.73. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 45.71 and a beta of 0.49.

Nikon (OTCMKTS:NINOY) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.15). Nikon had a return on equity of 1.99% and a net margin of 1.85%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.03 billion. On average, sell-side analysts forecast that Nikon Corp. will post 0.44 earnings per share for the current year.

About Nikon

Nikon Corporation manufactures and sells optical instruments in Japan, North America, Europe, China, Thailand, and internationally. It operates through Imaging Products Business, Precision Equipment Business, Healthcare Business, Components Business, and Industrial equipment and Others segments. The Imaging Products Business segment provides digital SLR cameras, compact digital cameras, and interchangeable camera lenses.