Nitto Denko (OTCMKTS:NDEKY) Trading 6.7% Higher Following Earnings Beat

Nitto Denko Corp. (OTCMKTS:NDEKY) shares shot up 6.7% during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $24.90 and last traded at $24.8950. 872 shares traded hands during mid-day trading, a decline of 98% from the average session 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 the consensus estimate of $0.33 by $0.02. Nitto Denko had a net margin of 13.14% and a return on equity of 12.78%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.64 billion.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded Nitto Denko from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Nitto Denko Price Performance

The firm has a 50-day simple moving average of $23.89 and a 200 day simple moving average of $23.45. The stock has a market capitalization of $15.41 billion, a P/E ratio of 17.20 and a beta of 0.88.

About Nitto Denko

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.