Nidec (OTCMKTS:NJDCY) Trading Up 37.4% – Time to Buy?

Nidec Corp. (OTCMKTS:NJDCY) shares rose 37.4% during trading on Monday . The company traded as high as $4.15 and last traded at $4.1230. Approximately 8,441 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 31,626 shares. The stock had previously closed at $3.00.

Analysts Set New Price Targets

Separately, Citigroup lowered 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, According to MarketBeat, Nidec currently has a consensus rating of “Hold”.

Nidec Stock Performance

The stock has a 50-day moving average of $4.10 and a two-hundred day moving average of $3.69. The company has a market cap of $39.21 billion, a P/E 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.