Nidec (OTCMKTS:NJDCY) Trading Down 16.7% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY) was down 16.7% during mid-day trading on Wednesday . The stock traded as low as $4.00 and last traded at $4.00. Approximately 8,126 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 32,888 shares. The stock had previously closed at $4.80.

Analyst Ratings Changes

Separately, Citigroup downgraded shares of Nidec from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Nidec presently has an average rating of “Hold”.

Nidec Stock Down 14.4%

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market cap of $39.21 billion, a PE ratio of 15.81 and a beta of 1.29. The firm’s 50 day moving average is $4.01 and its 200-day moving average is $3.62.

Nidec Company Profile

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.