Nitto Denko (OTCMKTS:NDEKY) Trading Up 6.7% on Strong Earnings

Shares of Nitto Denko Corp. (OTCMKTS:NDEKY) were up 6.7% during mid-day trading on Monday following a better than expected earnings announcement. The stock traded as high as $24.90 and last traded at $24.8950. Approximately 872 shares changed hands during trading, a decline of 98% from the average daily volume of 36,676 shares. The stock had previously closed at $23.33.

The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.64 billion. Nitto Denko had a return on equity of 12.09% and a net margin of 12.56%.

Wall Street Analyst Weigh In

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

Nitto Denko Price Performance

The firm has a fifty day moving average of $23.91 and a 200 day moving average of $23.43. The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 18.99 and a beta of 0.88.

Nitto Denko Company Profile

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.