Nitto Denko (OTCMKTS:NDEKY) Sees Strong Trading Volume – Should You Buy?

Nitto Denko Corp. (OTCMKTS:NDEKY) saw an uptick in trading volume on Thursday . 98,461 shares were traded during trading, an increase of 150% from the previous session’s volume of 39,411 shares.The stock last traded at $25.79 and had previously closed at $25.66.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of Nitto Denko from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has a consensus rating of “Strong Buy”.

Nitto Denko Price Performance

The firm’s 50-day moving average is $24.39 and its 200-day moving average is $21.28. The company has a market capitalization of $17.49 billion, a P/E ratio of 20.78 and a beta of 0.94.

Nitto Denko Company Profile

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan, the Americas, Europe, Asia, and Oceania. It provides double sided tapes, surface protective films, sealing materials, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.