Fortum Oyj (OTCMKTS:FOJCY) Shares Gap Down – Here’s Why

Fortum Oyj (OTCMKTS:FOJCY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $4.57, but opened at $4.30. Fortum Oyj shares last traded at $4.34, with a volume of 4,161 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Fortum Oyj to a “hold” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Fortum Oyj Price Performance

The company’s 50 day moving average price is $4.85 and its 200 day moving average price is $4.68. The firm has a market cap of $19.43 billion and a PE ratio of 7.04.

Fortum Oyj Company Profile

Fortum Oyj is a Finnish energy company primarily engaged in the production, distribution and sale of electricity and heat. The company’s generation portfolio spans a mix of nuclear, hydroelectric, combined‐cycle gas and bioenergy power plants. In addition to large‐scale power generation, Fortum operates district heating networks and waste‐to‐energy facilities, providing heat and power solutions to municipalities, industrial customers and residential users across its core markets.

In its customer solutions segment, Fortum offers electricity retail services, electric vehicle charging infrastructure and energy efficiency solutions.