Nidec (OTCMKTS:NJDCY) Stock Price Up 9.9% – Here’s What Happened

Shares of Nidec Corp. (OTCMKTS:NJDCY) shot up 9.9% on Wednesday . The stock traded as high as $3.90 and last traded at $3.90. Approximately 687 shares changed hands during trading, a decline of 98% from the average session volume of 32,825 shares. The stock had previously closed at $3.55.

Analyst Ratings Changes

Separately, Citigroup downgraded Nidec from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Nidec has a consensus rating of “Hold”.

Nidec Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a 50-day simple moving average of $4.09 and a 200 day simple moving average of $3.66. The firm has a market cap of $37.69 billion, a PE ratio of 15.19 and a beta of 1.29.

About Nidec

Nidec Corporation is a global manufacturer of electric motors and related systems, supplying components and finished products for a wide range of industries. The company is best known for its precision small motors used in computer hard-disk drives and other compact applications, and it has broadened its product portfolio to include motors, drives, controllers and mechatronic systems for consumer appliances, office automation, industrial equipment and automotive applications.

Its product range encompasses brushless DC motors, induction motors, servo systems, power electronics and complete motor-driven systems designed for energy efficiency and high performance.