Neste OYJ (OTCMKTS:NTOIY) Shares Gap Up – Still a Buy?

Shares of Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY) gapped up prior to trading on Wednesday . The stock had previously closed at $19.5375, but opened at $20.16. Neste OYJ shares last traded at $20.17, with a volume of 3,341 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NTOIY. The Goldman Sachs Group raised Neste OYJ from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Zacks Research downgraded Neste OYJ from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Four equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy”.

Neste OYJ Stock Performance

The firm has a market capitalization of $30.81 billion and a price-to-earnings ratio of 17.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 0.81. The firm has a 50 day moving average price of $18.20 and a 200-day moving average price of $16.73.

Neste OYJ (OTCMKTS:NTOIY) last released its earnings results on Friday, July 24th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Neste OYJ had a return on equity of 19.90% and a net margin of 7.35%.The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.19 billion. As a group, sell-side analysts expect that Neste OYJ – Unsponsored ADR will post 1.73 earnings per share for the current fiscal year.

About Neste OYJ

Neste Oyj is a Finland-based company that produces renewable fuels and other renewable products. Its portfolio includes Neste MY Renewable Diesel, sustainable aviation fuel, renewable feedstocks, and renewable solutions for polymers and chemicals. The company also produces and markets conventional oil products, including transportation fuels and refinery products.

Founded in 1948, Neste was established as Finland’s national oil company and was formerly known as Neste Oil. It adopted the name Neste in 2015 as its business increasingly focused on renewable and circular solutions.