Nidec (OTCMKTS:NJDCY) Stock Price Down 27.1% – Here’s What Happened

Nidec Corp. (OTCMKTS:NJDCY)’s share price was down 27.1% during mid-day trading on Thursday. The company traded as low as $2.80 and last traded at $2.80. 9,670 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 26,386 shares. The stock had previously closed at $3.84.

Nidec Stock Performance

The company’s fifty day moving average is $3.99 and its two-hundred day moving average is $3.94. The firm has a market cap of $26.24 billion, a price-to-earnings ratio of -3.93 and a beta of 1.33.

Nidec (OTCMKTS:NJDCY) last released its quarterly earnings results on Wednesday, September 30th. The industrial goods maker reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nidec had a negative return on equity of 29.23% and a negative net margin of 17.80%. The company had revenue of $4.58 billion during 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 and produces precision small motors, automotive motors, appliance and commercial motors, and industrial motors used in a broad range of equipment and applications.

Its products also include motor systems, reducers, fans, electronic and optical components, and machinery used in manufacturing. Nidec serves customers in sectors such as information technology, automotive, home appliances, office equipment, industrial automation, and renewable energy.

Founded in 1973 by Shigenobu Nagamori, Nidec has expanded from a precision small-motor business into a global manufacturing group with operations and customers across Asia, the Americas, Europe, and other international markets.