Short Interest in Outokumpu Oyj (OTCMKTS:OUTKY) Drops By 60.6%


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Outokumpu Oyj (OTCMKTS:OUTKY) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,300 shares, a decrease of 60.6% from the March 15th total of 3,300 shares. Based on an average daily volume of 200 shares, the days-to-cover ratio is currently 6.5 days.

Several brokerages recently issued reports on OUTKY. Exane BNP Paribas cut Outokumpu Oyj from an “outperform” rating to a “neutral” rating in a research note on Monday, January 18th. Zacks Investment Research upgraded Outokumpu Oyj from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research note on Friday. Credit Suisse Group restated an “underperform” rating on shares of Outokumpu Oyj in a research note on Friday, February 5th. Morgan Stanley upgraded Outokumpu Oyj from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, March 24th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Outokumpu Oyj in a research note on Thursday. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Outokumpu Oyj presently has a consensus rating of “Hold” and an average price target of $3.50.

Shares of OUTKY remained flat at $$3.07 during trading hours on Friday. Outokumpu Oyj has a 1-year low of $1.17 and a 1-year high of $3.07. The firm has a market cap of $2.52 billion, a PE ratio of -23.58 and a beta of 0.96. The company has a quick ratio of 0.60, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average is $2.69 and its 200-day moving average is $2.00.

Outokumpu Oyj (OTCMKTS:OUTKY) last announced its quarterly earnings results on Thursday, February 4th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.56 billion. Outokumpu Oyj had a negative net margin of 1.68% and a negative return on equity of 3.75%. As a group, sell-side analysts anticipate that Outokumpu Oyj will post -0.2 earnings per share for the current fiscal year.

Outokumpu Oyj Company Profile

Outokumpu Oyj produces and sells various stainless steel products in Finland, other European countries, North America, the Asia-Pacific, and internationally. It offers cold rolled coils, strips, and sheets; precision strips; hot rolled coils, strips, and plates; quarto plates; semi-finished stainless steel long products; stainless steel wire rods, drawn wire, bars, and rebars; welded stainless steel I-beams, H-beams, hollow-section tubes, and bent profiles for load-bearing structures; suction roll shell blanks; blancs and discs; and customized press plates and ready-to-use plates.

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