Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down – Here’s What Happened

Nitto Denko Corp. (OTCMKTS:NDEKY) shares gapped down before the market opened on Monday . The stock had previously closed at $21.94, but opened at $20.69. Nitto Denko shares last traded at $21.44, with a volume of 4,099 shares changing hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group downgraded shares of Nitto Denko from a “strong-buy” rating to a “neutral” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Nitto Denko Stock Performance

The stock has a market cap of $14.79 billion, a P/E ratio of 16.64 and a beta of 0.84. The business has a 50 day simple moving average of $21.34 and a 200-day simple moving average of $20.29.

Nitto Denko (OTCMKTS:NDEKY) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). Nitto Denko had a return on equity of 12.13% and a net margin of 12.94%.The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Nitto Denko has set its FY 2026 guidance at 1.335-1.335 EPS. On average, sell-side analysts predict that Nitto Denko Corp. will post 1.3 earnings per share for the current fiscal year.

About Nitto Denko

Nitto Denko Corporation is a Japan-based materials manufacturer that develops and produces specialty products for industrial, electronics, automotive, medical and other markets. The company is known for its expertise in adhesives, polymer processing, coating and materials engineering.

Its product portfolio includes industrial and electronic adhesive tapes, protective and release films, optical films used in displays, sealing and insulation materials, semiconductor-related products, flexible printed circuit materials, and medical and healthcare products.