Neste OYJ (OTCMKTS:NTOIY) Shares Gap Up – Here’s Why

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.60, but opened at $17.76. Neste OYJ shares last traded at $17.27, with a volume of 2,020 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research lowered shares of Neste OYJ from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. UBS Group raised shares of Neste OYJ from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy”.

Neste OYJ Trading Up 4.4%

The company has a fifty day simple moving average of $16.56 and a two-hundred day simple moving average of $15.07. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.89 and a quick ratio of 0.95. The company has a market capitalization of $26.63 billion and a P/E ratio of 15.12.

Neste OYJ (OTCMKTS:NTOIY) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.19 billion. Neste OYJ had a return on equity of 21.16% and a net margin of 7.35%. On average, analysts forecast that Neste OYJ – Unsponsored ADR will post 1.37 earnings per share for the current fiscal year.

About Neste OYJ

Neste OYJ is a Finland-based energy company with a strong focus on renewable and circular solutions. Headquartered in Espoo, the company operates one of the world’s largest renewable diesel production networks and offers a wide range of low-carbon fuels, sustainable aviation fuel (SAF) and renewable feedstocks derived from waste and residues. In addition to renewable products, Neste maintains traditional oil refining and marketing operations in selected markets.

The company’s Renewable Products segment processes raw materials such as used cooking oil, animal fat and industrial residues into high-performance renewable diesel and aviation fuel.