Nitto Denko (OTCMKTS:NDEKY) Shares Gap Up – Time to Buy?

Nitto Denko Corp. (OTCMKTS:NDEKY) shares gapped up prior to trading on Monday . The stock had previously closed at $23.09, but opened at $24.32. Nitto Denko shares last traded at $24.1120, with a volume of 222 shares trading hands.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Nitto Denko from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Nitto Denko currently has an average rating of “Strong Buy”.

Nitto Denko Stock Up 0.8%

The firm has a 50 day moving average of $24.52 and a two-hundred day moving average of $21.62. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of 19.60 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.