Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down – Should You Sell?

Nitto Denko Corp. (OTCMKTS:NDEKY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $24.67, but opened at $23.69. Nitto Denko shares last traded at $24.16, with a volume of 15,720 shares traded.

Wall Street Analysts Forecast Growth

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

Nitto Denko Stock Performance

The firm’s 50 day simple moving average is $24.65 and its 200 day simple moving average is $21.87. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 19.42 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.