Nidec (OTCMKTS:NJDCY) Trading Down 9% – Here’s Why

Shares of Nidec Corp. (OTCMKTS:NJDCY) fell 9% during trading on Friday . The company traded as low as $2.87 and last traded at $2.87. 6,169 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 315,577 shares. The stock had previously closed at $3.1550.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Nidec from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen raised Nidec from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 23rd. Finally, Macquarie downgraded Nidec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Nidec Trading Down 4.6%

The business has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $4.28. The company has a current ratio of 1.61, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $28.72 billion, a PE ratio of 11.58 and a beta of 0.98.

Nidec (OTCMKTS:NJDCY) last posted its earnings results on Friday, November 14th. The industrial goods maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Nidec had a net margin of 6.82% and a return on equity of 10.15%. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.29 billion. Analysts expect that Nidec Corp. will post 0.25 EPS for the current fiscal year.

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.