Outokumpu (OTCMKTS:OUTKY) Stock Short Interest Drops 48.9%

Outokumpu (OTCMKTS:OUTKY) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 2,447 shares, a decline of 48.9% from the September 30th total of 4,788 shares. Based on an average daily volume of 1,647 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OUTKY shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a report on Friday, September 4th. Citigroup restated a “neutral” rating on shares of Outokumpu in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Outokumpu Stock Performance

Shares of Outokumpu stock traded down $0.13 during midday trading on Friday, hitting $2.45. The company had a trading volume of 85,178 shares, compared to its average volume of 881. The business’s 50 day simple moving average is $2.94 and its two-hundred day simple moving average is $3.05. Outokumpu has a 1-year low of $1.90 and a 1-year high of $3.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.60. The stock has a market cap of $2.32 billion, a PE ratio of -24.50 and a beta of 0.65.

Outokumpu (OTCMKTS:OUTKY) last released its earnings results on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Outokumpu had a negative return on equity of 2.38% and a negative net margin of 1.48%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.97 billion. As a group, equities analysts predict that Outokumpu will post 0.10 EPS for the current fiscal year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based stainless steel manufacturer serving customers across Europe, the Americas and other international markets. The company produces stainless steel for applications in industries including construction, automotive, transportation, energy, food processing and industrial equipment.

Its product portfolio includes stainless steel coils, sheets, plates, strips and long products, along with specialized grades designed for demanding environments. Outokumpu also produces ferrochrome, an important raw material used in stainless steel manufacturing, and provides related technical, processing and customer support services.

Outokumpu traces its origins to 1910, when copper ore was discovered in Outokumpu, Finland.