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

Outokumpu (OTCMKTS:OUTKY) gapped down before the market opened on Monday . The stock had previously closed at $3.28, but opened at $2.65. Outokumpu shares last traded at $2.65, with a volume of 246 shares traded.

Analysts Set New Price Targets

OUTKY has been the subject of several research analyst reports. Citigroup reiterated a “neutral” rating on shares of Outokumpu in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Finally, Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Two 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. According to MarketBeat, Outokumpu presently has an average rating of “Hold”.

Outokumpu Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.60 and a current ratio of 1.56. The firm’s 50-day moving average is $3.28 and its two-hundred day moving average is $2.98. The stock has a market cap of $2.51 billion, a P/E ratio of -17.67 and a beta of 0.71.

Outokumpu Company Profile

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.