Outokumpu (OTCMKTS:OUTKY) Shares Gap Down – Here’s What Happened

Shares of Outokumpu (OTCMKTS:OUTKY) gapped down before the market opened on Thursday . The stock had previously closed at $3.66, but opened at $3.25. Outokumpu shares last traded at $3.25, with a volume of 350 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup reiterated a “neutral” rating on shares of Outokumpu in a research report on Wednesday, May 20th. Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Outokumpu Stock Down 5.0%

The business has a fifty day simple moving average of $3.25 and a 200 day simple moving average of $2.93. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -21.67 and a beta of 0.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 0.58.

About Outokumpu

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.