Fortum Oyj (OTCMKTS:FOJCY) Shares Gap Up – Time to Buy?

Fortum Oyj (OTCMKTS:FOJCY) gapped up prior to trading on Monday . The stock had previously closed at $4.31, but opened at $4.6040. Fortum Oyj shares last traded at $4.4750, with a volume of 1,324 shares changing hands.

Wall Street Analyst Weigh In

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

Fortum Oyj Stock Up 4.6%

The company has a market cap of $20.23 billion and a price-to-earnings ratio of 7.04. The firm has a 50-day simple moving average of $4.81 and a 200 day simple moving average of $4.68.

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.