Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up – Here’s Why

Nitto Denko Corp. (OTCMKTS:NDEKY) gapped up prior to trading on Monday . The stock had previously closed at $23.94, but opened at $24.42. Nitto Denko shares last traded at $24.25, with a volume of 3,754 shares trading hands.

Analyst Upgrades and Downgrades

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, Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Nitto Denko Stock Up 0.1%

The company’s 50-day moving average is $24.49 and its two-hundred day moving average is $22.73. The company has a market cap of $16.13 billion, a P/E ratio of 19.17 and a beta of 0.88.

About Nitto Denko

Nitto Denko Corporation, trading over?the?counter in the U.S. under the symbol NDEKY, is a Japan?based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.

The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.