Short Interest in Outokumpu (OTCMKTS:OUTKY) Rises By 593.4%

Outokumpu (OTCMKTS:OUTKY) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 6,858 shares, a growth of 593.4% from the May 31st total of 989 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 743 shares, the short-interest ratio is currently 9.2 days.

Outokumpu Price Performance

Shares of OTCMKTS OUTKY remained flat at $3.10 during trading hours on Friday. The company had a trading volume of 1 shares, compared to its average volume of 545. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 0.60. The firm has a fifty day moving average of $3.30 and a 200-day moving average of $2.97. Outokumpu has a fifty-two week low of $1.89 and a fifty-two week high of $3.66. The stock has a market cap of $2.93 billion, a PE ratio of -20.67 and a beta of 0.71.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OUTKY. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Citigroup restated a “neutral” rating on shares of Outokumpu in a research report on Wednesday, May 20th. Finally, Oddo Bhf raised Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

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.