Nitto Denko (OTCMKTS:NDEKY) Share Price Breaks Below 50 Day Moving Average – What’s Next?

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $22.03 and traded as low as $21.06. Nitto Denko shares last traded at $21.56, with a volume of 49,719 shares changing hands.

Nitto Denko Stock Down 2.2%

The business has a 50-day simple moving average of $22.03 and a 200-day simple moving average of $21.01. The company has a market cap of $14.30 billion, a PE ratio of 16.09 and a beta of 0.82.

Nitto Denko (OTCMKTS:NDEKY) last released its earnings results on Tuesday, October 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Nitto Denko had a return on equity of 12.22% and a net margin of 13.15%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.87 billion. As a group, equities research analysts predict that Nitto Denko Corp. will post 1.36 EPS for the current fiscal year.

Nitto Denko Company Profile

Nitto Denko Corporation is a Japanese materials manufacturer headquartered in Osaka. Founded in 1918, the company began by producing electrical insulation materials and has since expanded into a range of specialty products used in industrial and consumer applications. Its products include adhesive tapes, films and other materials for electronics and semiconductor manufacturing, optical films used in displays, and membrane products for water treatment and gas separation. Nitto Denko also develops medical and healthcare materials, including transdermal drug-delivery products.