Outokumpu (OTCMKTS:OUTKY) Shares Gap Down - Here's What Happened

Key Points

• Outokumpu's stock price gapped down to $1.89 from a previous close of $1.99, with only 100 shares traded.
• Analysts have set an average rating of "Sell" on Outokumpu, with Barclays downgrading its rating from "hold" to "strong sell."
• The company posted a negative EPS of ($0.02) in its latest earnings report, along with a revenue of $1.69 billion.

Outokumpu (OTCMKTS:OUTKY - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $1.99, but opened at $1.89. Outokumpu shares last traded at $1.89, with a volume of 100 shares.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OUTKY. Barclays cut shares of Outokumpu from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 16th. Citigroup restated a "neutral" rating on shares of Outokumpu in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Outokumpu currently has a consensus rating of "Sell".

Outokumpu Stock Performance

The stock has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $1.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.63 and a current ratio of 1.66. The firm has a market cap of $1.79 billion, a PE ratio of -37.80 and a beta of 0.56.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.02) earnings per share for the quarter. Outokumpu had a negative return on equity of 1.33% and a negative net margin of 0.82%.The business had revenue of $1.69 billion during the quarter. As a group, sell-side analysts anticipate that Outokumpu will post 0.07 EPS for the current year.

Outokumpu Company Profile

Outokumpu Oyj produces and sells various stainless steel products in Finland, other European countries, North America, the Asia-Pacific, and internationally. The company operates through three segments: Europe, Americas, and Ferrochrome. It offers cold rolled coils, strips, and sheets; hot rolled coils, strips, and plates; quarto plates; precision strips; and specialized components, such as welded stainless-steel I-beams, H-beams, hollow-section tubes, bent profiles, structural sections, hardened and customized press plates, suction roll shells, and blancs and disks.