Fortum Oyj (OTCMKTS:FOJCY) Sees Large Volume Increase – Still a Buy?

Shares of Fortum Oyj (OTCMKTS:FOJCY) saw unusually-high trading volume on Monday . Approximately 13,949 shares traded hands during trading, an increase of 113% from the previous session’s volume of 6,544 shares.The stock last traded at $4.78 and had previously closed at $5.01.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Fortum Oyj to a “hold” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Fortum Oyj currently has an average rating of “Hold”.

Fortum Oyj Price Performance

The firm has a market capitalization of $21.48 billion and a P/E ratio of 7.04. The stock’s 50-day simple moving average is $4.95 and its two-hundred day simple moving average is $4.63.

Fortum Oyj Company Profile

Fortum Oyj is a Finnish energy company primarily engaged in the production, distribution and sale of electricity and heat. The company’s generation portfolio spans a mix of nuclear, hydroelectric, combined‐cycle gas and bioenergy power plants. In addition to large‐scale power generation, Fortum operates district heating networks and waste‐to‐energy facilities, providing heat and power solutions to municipalities, industrial customers and residential users across its core markets.

In its customer solutions segment, Fortum offers electricity retail services, electric vehicle charging infrastructure and energy efficiency solutions.