Nidec (OTCMKTS:NJDCY) Trading Down 16.7% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY) shares traded down 16.7% during mid-day trading on Wednesday . The stock traded as low as $4.00 and last traded at $4.00. 8,126 shares were traded during trading, a decline of 75% from the average session volume of 32,888 shares. The stock had previously closed at $4.80.

Wall Street Analysts Forecast Growth

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

Nidec Stock Down 14.4%

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’s 50-day moving average is $4.01 and its 200 day moving average is $3.62. The stock has a market cap of $39.21 billion, a price-to-earnings ratio of 15.81 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.