Neste OYJ - Unsponsored ADR (OTCMKTS:NTOIY) Sees Large Drop in Short Interest

Key Points

• Short interest in Neste OYJ ADR fell sharply in July, dropping 66.9% to 36,421 shares by July 15 from 110,121 shares at the end of June. The stock now has only 0.3 days to cover and effectively 0.0% of shares sold short.
• Analyst sentiment remains mixed but positive overall, with an average MarketBeat rating of “Buy.” Recent updates included Zacks Research cutting its rating to hold, while UBS Group upgraded the stock to strong-buy.
• Latest earnings beat EPS expectations but missed on revenue. Neste reported $0.58 EPS versus the $0.56 consensus, while revenue came in at $6.81 billion against expectations of $7.19 billion.

Neste OYJ - Unsponsored ADR (OTCMKTS:NTOIY - Get Free Report) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 36,421 shares, a decline of 66.9% from the June 30th total of 110,121 shares. Based on an average daily volume of 137,570 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company's shares are sold short.

Wall Street Analyst Weigh In

NTOIY has been the subject of several research analyst reports. 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 note on Friday, April 24th. Three 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. According to data from MarketBeat, Neste OYJ currently has an average rating of "Buy".

Neste OYJ Stock Down 6.9%

Shares of OTCMKTS NTOIY opened at $17.65 on Friday. The stock has a fifty day moving average price of $16.57 and a 200 day moving average price of $14.98. The company has a current ratio of 1.89, a quick ratio of 0.95 and a debt-to-equity ratio of 0.64. Neste OYJ has a 12-month low of $7.78 and a 12-month high of $19.31. The company has a market cap of $27.12 billion and a P/E ratio of 15.35.

Neste OYJ (OTCMKTS:NTOIY - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. Neste OYJ had a return on equity of 10.12% and a net margin of 3.78%.The company had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $7.19 billion. Research analysts anticipate that Neste OYJ will post 1.37 EPS for the current fiscal 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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