Nikon (OTCMKTS:NINOY) Shares Gap Down – Here’s Why

Nikon Corp. (OTCMKTS:NINOY) shares gapped down prior to trading on Tuesday. The stock had previously closed at $11.91, but opened at $11.52. Nikon shares last traded at $12.46, with a volume of 363 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Nikon to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Nikon Trading Up 0.7%

The firm has a market cap of $3.95 billion, a PE ratio of -6.41 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 1.91. The stock’s 50 day simple moving average is $12.12 and its 200 day simple moving average is $12.38.

Nikon (OTCMKTS:NINOY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.06. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. Nikon had a negative net margin of 13.88% and a negative return on equity of 15.50%. On average, sell-side analysts forecast that Nikon Corp. will post 0.61 earnings per share for the current fiscal year.

About Nikon

Nikon Corporation is a Japan-based optical and precision technology company founded in 1917 as Nippon Kogaku K.K. The company is best known for its cameras, NIKKOR interchangeable lenses, binoculars, and other imaging products, serving professional photographers, content creators, consumers, and business customers worldwide.

Nikon also develops and supplies advanced equipment for semiconductor and flat-panel display manufacturing, including photolithography systems. Its business activities extend to healthcare products such as microscopes and ophthalmic equipment, as well as industrial metrology, measurement systems, optical components, and other precision technologies used in manufacturing and research.

Headquartered in Tokyo, Nikon serves customers through operations and sales networks across Japan, North America, Europe, and other international markets.