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

Outokumpu (OTCMKTS:OUTKY) gapped up before the market opened on Tuesday . The stock had previously closed at $3.1668, but opened at $3.45. Outokumpu shares last traded at $3.50, with a volume of 699 shares.

Analysts Set New Price Targets

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

Outokumpu Price Performance

The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -23.27 and a beta of 0.68. The company’s 50 day moving average is $3.06 and its 200 day moving average is $2.82. The company has a quick ratio of 0.58, a current ratio of 1.63 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.