Nitto Denko (OTCMKTS:NDEKY) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Nitto Denko Corp. (OTCMKTS:NDEKY)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $21.06 and traded as low as $20.57. Nitto Denko shares last traded at $20.97, with a volume of 100,067 shares trading hands.

Nitto Denko Trading Down 1.7%

The stock has a market capitalization of $14.23 billion, a PE ratio of 15.65 and a beta of 0.83. The firm has a 50-day moving average price of $22.02 and a 200-day moving average price of $21.06.

Nitto Denko (OTCMKTS:NDEKY) last issued its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Nitto Denko had a net margin of 13.15% and a return on equity of 12.22%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.87 billion. Sell-side analysts expect that Nitto Denko Corp. will post 1.30 earnings per share for the current fiscal year.

Nitto Denko Company Profile

Nitto Denko Corporation is a Japanese materials and manufacturing company that develops and supplies high-performance products for industrial, electronic, automotive, life science and other applications. Founded in 1918, the company has expanded from its original focus on electrical insulation materials into a diversified global technology business.

Its product portfolio includes industrial and specialty adhesive tapes, protective films, sealing and insulation materials, optical films used in displays, flexible printed circuit materials, and materials for semiconductor manufacturing.