Fortum Oyj (OTCMKTS:FOJCY) Shares Gap Up – Here’s Why

Fortum Oyj (OTCMKTS:FOJCY) shares gapped up before the market opened on Monday. The stock had previously closed at $5.11, but opened at $5.3120. Fortum Oyj shares last traded at $5.3120, with a volume of 343 shares trading hands.

Analyst Ratings Changes

Separately, UBS Group raised Fortum Oyj from a “strong sell” rating to a “hold” rating in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, Fortum Oyj presently has a consensus rating of “Hold”.

Fortum Oyj Price Performance

The stock’s 50 day simple moving average is $5.12 and its 200-day simple moving average is $4.87.

Fortum Oyj Company Profile

Fortum Oyj is a Finnish energy company focused on clean electricity generation, reliable energy supply and the decarbonization of industry. Its portfolio includes nuclear, hydropower, wind and solar generation, along with electricity sales and energy services for residential, commercial and industrial customers.

The company also provides district heating and cooling, energy-efficiency solutions and other services designed to help customers reduce emissions. Fortum’s primary operating markets are in the Nordic region, particularly Finland and Sweden, with activities and customers in other European markets.

Fortum was established in 1998 through the merger of Imatran Voima and Neste’s energy businesses.