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

Nidec Corp. (OTCMKTS:NJDCY)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $4.01, but opened at $2.50. Nidec shares last traded at $2.50, with a volume of 231 shares traded.

Nidec Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $3.46 and a 200 day simple moving average of $3.74. The company has a market cap of $23.85 billion, a price-to-earnings ratio of -3.57 and a beta of 1.41.

Nidec (OTCMKTS:NJDCY) last announced its earnings results on Wednesday, September 30th. The industrial goods maker reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Nidec had a negative return on equity of 33.77% and a negative net margin of 17.80%.

Nidec Company Profile

Nidec Corporation is a Japanese manufacturer of electric motors and related components. Founded in Kyoto in 1973 as Nippon Densan Corporation, the company adopted the name Nidec in 2014. Its products include precision motors used in devices such as hard-disk drives, as well as motors and components for automobiles, home appliances, commercial equipment and industrial applications. Nidec also supplies machinery and other products used in manufacturing. Headquartered in Kyoto, Nidec serves customers around the world through operations across Asia, the Americas and Europe.