Nidec (OTCMKTS:NJDCY) Shares Down 13% – Here’s Why

Nidec Corp. (OTCMKTS:NJDCY) was down 13% on Wednesday. The company traded as low as $2.21 and last traded at $2.21. Approximately 5,869 shares changed hands during trading, a decline of 78% from the average daily volume of 26,745 shares. The stock had previously closed at $2.54.

Nidec Stock Down 7.4%

The company has a market cap of $23.85 billion, a PE ratio of -3.57 and a beta of 1.41. The stock’s 50 day moving average price is $3.54 and its 200-day moving average price is $3.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.36.

Nidec (OTCMKTS:NJDCY) last posted its quarterly earnings results on Wednesday, September 30th. The industrial goods maker reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nidec had a negative net margin of 17.80% and a negative return on equity of 33.77%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.15 billion.

About Nidec

Nidec Corporation is a Japan-based manufacturer of electric motors and related components. The company develops precision motors used in hard disk drives, optical disk drives, smartphones, cameras, and other electronic equipment, as well as motors and systems for automobiles, household appliances, commercial equipment, industrial machinery, and robotics.

Founded in 1973 by Shigenobu Nagamori, Nidec has expanded from a specialist producer of small precision motors into a diversified global motor and motion-control company.