Nitto Denko (OTCMKTS:NDEKY) Shares Gap Down – Here’s What Happened

Nitto Denko Corp. (OTCMKTS:NDEKY) shares gapped down prior to trading on Friday . The stock had previously closed at $23.20, but opened at $22.13. Nitto Denko shares last traded at $23.69, with a volume of 31,577 shares traded.

Analysts Set New Price Targets

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

Nitto Denko Stock Up 2.4%

The stock has a market cap of $16.12 billion, a PE ratio of 19.15 and a beta of 0.88. The stock’s fifty day moving average price is $24.23 and its 200 day moving average price is $23.03.

About Nitto Denko

Nitto Denko Corporation, trading over‐the‐counter in the U.S. under the symbol NDEKY, is a Japan‐based manufacturer specializing in advanced materials and components. The company’s core offerings include pressure-sensitive adhesive tapes, optical films, and functional polymers used across a broad spectrum of industries. With a focus on innovation, Nitto Denko develops solutions for electronics, automotive, and healthcare markets, leveraging proprietary coating, lamination and microfabrication technologies.

The company’s product portfolio spans display materials—such as polarizing films for LCD panels—semiconductor device protection tapes, thermal interface materials for heat dissipation, and a range of industrial adhesive products.