Neste OYJ (OTCMKTS:NTOIY) Shares Gap Down - Here's What Happened

Key Points

• Neste OYJ shares gapped down pre-market from $17.24 to an open of $15.78 and were last trading around $15.96, a decline of roughly 2.4%.
• Several firms have recently upgraded the stock (UBS, Barclays, Zacks among them), leaving an average "Buy" rating with four Strong Buy, one Buy and two Hold opinions.
• The company beat Q1 estimates with $0.40 EPS vs. $0.30 expected and revenue of $6.04B vs. $5.84B; Neste has a market cap of about $24.6B and a P/E near 29.7, and is focused on renewable diesel and sustainable aviation fuel.

Shares of Neste OYJ - Unsponsored ADR (OTCMKTS:NTOIY - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $17.24, but opened at $15.78. Neste OYJ shares last traded at $15.96, with a volume of 4,664 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NTOIY shares. UBS Group upgraded Neste OYJ from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. Barclays upgraded Neste OYJ from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 17th. The Goldman Sachs Group lowered shares of Neste OYJ from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 19th. Zacks Research upgraded shares of Neste OYJ from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada upgraded shares of Neste OYJ from a "hold" rating to a "moderate buy" rating in a research note on Thursday, March 12th. Four analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

Neste OYJ Stock Down 2.4%

The business has a fifty day moving average of $15.16 and a 200 day moving average of $12.55. The stock has a market cap of $24.60 billion and a price-to-earnings ratio of 29.65. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.89 and a quick ratio of 0.95.

Neste OYJ (OTCMKTS:NTOIY - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.10. Neste OYJ had a return on equity of 10.12% and a net margin of 3.78%.The firm had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.84 billion. On average, equities analysts predict that Neste OYJ - Unsponsored ADR will post 1.39 earnings per share for the current year.

Neste OYJ Company Profile

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.

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