Nidec (OTCMKTS:NJDCY) Shares Gap Down – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $3.36, but opened at $3.00. Nidec shares last traded at $3.00, with a volume of 373 shares traded.

Nidec Stock Down 2.4%

The company has a market cap of $31.29 billion, a P/E ratio of -4.69 and a beta of 1.33. The firm’s 50-day moving average price is $4.06 and its 200-day moving average price is $3.94.

Nidec (OTCMKTS:NJDCY) last released its quarterly earnings data on Wednesday, September 30th. The industrial goods maker reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nidec had a negative return on equity of 27.00% and a negative net margin of 17.80%.The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.15 billion.

About Nidec

Nidec Corporation is a Japan-based manufacturer of electric motors and related components. The company develops and produces precision small motors, automotive motors, appliance and commercial motors, and industrial motors used in a broad range of equipment and applications.

Its products also include motor systems, reducers, fans, electronic and optical components, and machinery used in manufacturing. Nidec serves customers in sectors such as information technology, automotive, home appliances, office equipment, industrial automation, and renewable energy.

Founded in 1973 by Shigenobu Nagamori, Nidec has expanded from a precision small-motor business into a global manufacturing group with operations and customers across Asia, the Americas, Europe, and other international markets.