NITTO DENKO COR/ADR (OTCMKTS:NDEKY) shares traded up 1.3% during mid-day trading on Wednesday . The stock traded as high as $25.54 and last traded at $25.00, 15,610 shares traded hands during mid-day trading. A decline of 36% from the average session volume of 24,396 shares. The stock had previously closed at $24.67.
A number of equities analysts have recently commented on NDEKY shares. Zacks Investment Research raised NITTO DENKO COR/ADR from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, August 21st. Jefferies Financial Group cut shares of NITTO DENKO COR/ADR from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.00.
The firm’s 50-day moving average price is $23.56 and its two-hundred day moving average price is $24.68. The firm has a market cap of $7.86 billion, a PE ratio of 13.08 and a beta of 1.44.
Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan and internationally. It provides double sided tapes, surface protective films, sealing materials/NVH related products, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.
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