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

Key Points

• Short interest plunged 62.8% to 4,711 shares as of September 30, down from 12,650 shares two weeks earlier. Short interest represented approximately 0.0% of outstanding shares, with a short-interest ratio of 0.1 days.
• NTOIY shares opened at $17.96, compared with a 52-week range of $9.14 to $20.29. Neste OYJ reported quarterly EPS of $0.58, beating estimates by $0.02, although revenue of $6.81 billion fell short of expectations.
• Analyst sentiment is strongly positive: five analysts rated the stock “Strong Buy,” one rated it “Buy,” and one rated it “Hold.” Goldman Sachs and Zacks Research both recently upgraded the shares to “Strong Buy.”

Neste OYJ - Unsponsored ADR (OTCMKTS:NTOIY - Get Free Report) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 4,711 shares, a decrease of 62.8% from the September 15th total of 12,650 shares. Based on an average trading volume of 83,686 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company's shares are short sold.

Neste OYJ Stock Performance

Shares of NTOIY stock opened at $17.96 on Monday. The firm has a 50 day moving average of $18.38 and a two-hundred day moving average of $17.02. The stock has a market capitalization of $27.60 billion, a PE ratio of 15.67, a P/E/G ratio of 0.18 and a beta of -0.82. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 0.50. Neste OYJ has a 52 week low of $9.14 and a 52 week high of $20.29.

Neste OYJ (OTCMKTS:NTOIY - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.19 billion. Neste OYJ had a return on equity of 19.90% and a net margin of 7.35%. On average, research analysts predict that Neste OYJ will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NTOIY shares. The Goldman Sachs Group raised Neste OYJ from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 3rd. Zacks Research raised shares of Neste OYJ from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Five analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Strong Buy".

About Neste OYJ

Neste Oyj is a Finland-based company that produces renewable fuels, renewable feedstocks and oil-refining products. Its portfolio includes Neste MY Renewable Diesel, sustainable aviation fuel, renewable gasoline components and solutions for the polymers and chemicals industries. The company uses waste and residue-based raw materials, including used cooking oil and animal fat, in the production of renewable products.

Neste also operates a conventional oil-refining business, supplying products such as gasoline, diesel, jet fuel, base oils and other petroleum products.

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