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

Outokumpu (OTCMKTS:OUTKY) shares gapped down before the market opened on Monday . The stock had previously closed at $3.26, but opened at $2.69. Outokumpu shares last traded at $2.69, with a volume of 1,316 shares changing hands.

Analyst Upgrades and Downgrades

OUTKY has been the subject of several recent research reports. Jefferies Financial Group downgraded shares of Outokumpu from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Zacks Research raised shares of Outokumpu from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Citigroup reiterated a “neutral” rating on shares of Outokumpu in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Outokumpu Price Performance

The stock has a market capitalization of $2.54 billion, a P/E ratio of -16.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 1.63. The stock has a 50-day simple moving average of $2.98 and a 200 day simple moving average of $2.53.

Outokumpu (OTCMKTS:OUTKY) last released its earnings results on Thursday, February 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. Outokumpu had a negative return on equity of 4.00% and a negative net margin of 2.55%.The firm had revenue of $1.35 billion during the quarter. On average, equities analysts forecast that Outokumpu will post 0.07 earnings per share for the current fiscal year.

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.