Nidec (OTCMKTS:NJDCY) Stock Price Up 12.9% – Time to Buy?

Nidec Corp. (OTCMKTS:NJDCY)’s share price rose 12.9% during trading on Wednesday . The stock traded as high as $4.80 and last traded at $4.80. Approximately 1,505 shares changed hands during trading, a decline of 96% from the average daily volume of 35,100 shares. The stock had previously closed at $4.25.

Analysts Set New Price Targets

Separately, Citigroup cut Nidec from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Nidec Stock Up 5.6%

The firm’s fifty day simple moving average is $3.79 and its 200 day simple moving average is $3.54. The stock has a market capitalization of $42.84 billion, a price-to-earnings ratio of 17.27 and a beta of 1.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.06 and a current ratio of 1.61.

About Nidec

Nidec Corporation is a global manufacturer of electric motors and related systems, supplying components and finished products for a wide range of industries. The company is best known for its precision small motors used in computer hard-disk drives and other compact applications, and it has broadened its product portfolio to include motors, drives, controllers and mechatronic systems for consumer appliances, office automation, industrial equipment and automotive applications.

Its product range encompasses brushless DC motors, induction motors, servo systems, power electronics and complete motor-driven systems designed for energy efficiency and high performance.