Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Still a Buy?

Outokumpu (OTCMKTS:OUTKY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.8444, but opened at $3.41. Outokumpu shares last traded at $3.41, with a volume of 719 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OUTKY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Citigroup reiterated 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Outokumpu currently has an average rating of “Hold”.

Outokumpu Price Performance

The firm has a market capitalization of $3.23 billion, a P/E ratio of -22.73 and a beta of 0.75. The business’s 50-day simple moving average is $3.19 and its 200 day simple moving average is $3.05. The company has a quick ratio of 0.60, a current ratio of 1.56 and a debt-to-equity ratio of 0.15.

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.