Outokumpu (OTCMKTS:OUTKY) Sees Large Drop in Short Interest

Key Points

• Short interest in Outokumpu fell 80.5% to 2,175 shares as of August 14, down from 11,153 shares on July 30. Short interest represents effectively 0.0% of shares outstanding, with a days-to-cover ratio of 0.6.
• Outokumpu’s shares were flat at $3.10, within a 12-month range of $1.89 to $3.66. The company reported quarterly EPS of $0.03, missing estimates by $0.02, while revenue of $1.84 billion also came in below consensus.
• Analyst sentiment remains mostly neutral: two analysts rate the stock Buy and four rate it Hold, producing an overall “Hold” rating, although Oddo Bhf recently upgraded the shares to Outperform.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) was the target of a large decrease in short interest in August. As of August 14th, there was short interest totaling 2,175 shares, a decrease of 80.5% from the July 30th total of 11,153 shares. Based on an average daily volume of 3,555 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.0% of the company's stock are short sold.

Outokumpu Price Performance

Shares of OUTKY stock remained flat at $3.10 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.56 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.93 billion, a P/E ratio of -31.00 and a beta of 0.72. The company has a 50-day simple moving average of $3.10 and a 200-day simple moving average of $3.12. Outokumpu has a 12-month low of $1.89 and a 12-month high of $3.66.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). Outokumpu had a negative return on equity of 2.39% and a negative net margin of 1.48%.The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.97 billion. Equities analysts expect that Outokumpu will post 0.12 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on OUTKY shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Outokumpu in a report on Wednesday, May 13th. Citigroup reiterated a "neutral" rating on shares of Outokumpu in a report on Wednesday, May 20th. Finally, Oddo Bhf raised shares of Outokumpu to an "outperform" rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

About Outokumpu

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe's leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu's core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company's primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.

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