Nidec (OTCMKTS:NJDCY) Shares Gap Up – Still a Buy?

Nidec Corp. (OTCMKTS:NJDCY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $3.00, but opened at $3.25. Nidec shares last traded at $4.30, with a volume of 1,119 shares changing hands.

Wall Street Analyst Weigh In

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

Nidec Stock Performance

The stock has a market cap of $38.16 billion, a P/E ratio of 15.39 and a beta of 1.29. The firm has a 50-day moving average price of $4.10 and a 200-day moving average price of $3.68.

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.