Outokumpu (OTCMKTS:OUTKY) Shares Shorted: Short Interest Up 50.6% in September

Key Points

• Outokumpu’s short interest rose 50.6% to 4,752 shares as of September 15, equivalent to a 13.5-day short-covering ratio based on average daily volume.
• The stock was trading flat at $3.18, with a $3.01 billion market capitalization and a 52-week range of $1.90 to $3.66.
• The company missed quarterly earnings and revenue expectations, while analysts maintain a consensus “Hold” rating, with two Buys and four Holds.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 4,752 shares, an increase of 50.6% from the August 31st total of 3,156 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 353 shares, the days-to-cover ratio is currently 13.5 days.

Outokumpu Stock Performance

Shares of OUTKY remained flat at $3.18 during mid-day trading on Thursday. 1,032 shares of the company traded hands, compared to its average volume of 95. The stock has a market cap of $3.01 billion, a PE ratio of -31.83 and a beta of 0.72. Outokumpu has a 52-week low of $1.90 and a 52-week high of $3.66. The firm's fifty day simple moving average is $3.16 and its 200 day simple moving average is $3.13. The company has a current ratio of 1.53, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $1.97 billion. Research analysts anticipate that Outokumpu will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OUTKY shares. Citigroup reissued a "neutral" rating on shares of Outokumpu in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Outokumpu in a research report on Friday, September 4th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based metals company specializing in stainless steel and related products. Its portfolio includes stainless steel in coils, sheets, plates and long products, as well as specialty grades designed for demanding applications such as corrosion resistance, high temperatures and hygiene. The company also produces ferrochrome, an important raw material used in stainless steel manufacturing.

Outokumpu serves customers across industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment.

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