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

Shares of Outokumpu (OTCMKTS:OUTKY) gapped up before the market opened on Monday . The stock had previously closed at $2.8444, but opened at $3.41. Outokumpu shares last traded at $3.41, with a volume of 719 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OUTKY. Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Finally, Citigroup reissued a “neutral” rating on shares of Outokumpu in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Outokumpu Stock Up 19.9%

The company has a 50 day moving average of $3.19 and a 200-day moving average of $3.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 0.60. The company has a market cap of $3.23 billion, a P/E ratio of -22.73 and a beta of 0.75.

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.