Neste OYJ (OTCMKTS:NTOIY) Shares Break Below 200 Day Moving Average - Here's What Happened

Key Points

• Neste OYJ shares fell below their 200-day moving average of $16.14, reaching $15.633 before last trading at $15.76 on volume of 74,713 shares.
• Despite the technical decline, analyst sentiment remains highly positive: five analysts rate the stock “Strong Buy” and one rates it “Buy,” while Zacks Research and Goldman Sachs recently upgraded the shares.
• Neste’s latest quarterly results exceeded expectations, with earnings per share of $0.78 versus the $0.50 consensus and revenue of $7.29 billion compared with estimates of $6.36 billion.

Neste OYJ - Unsponsored ADR (OTCMKTS:NTOIY - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $16.14 and traded as low as $15.6330. Neste OYJ shares last traded at $15.76, with a volume of 74,713 shares changing hands.

Analyst Upgrades and Downgrades

NTOIY has been the subject of several research analyst reports. Zacks Research raised shares of Neste OYJ from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. The Goldman Sachs Group upgraded shares of Neste OYJ from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

Neste OYJ Price Performance

The stock has a market cap of $24.22 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.15 and a beta of -0.82. The firm has a 50-day moving average price of $18.45 and a 200-day moving average price of $16.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.80.

Neste OYJ (OTCMKTS:NTOIY - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.28. Neste OYJ had a return on equity of 19.90% and a net margin of 7.35%. The company had revenue of $7.29 billion during the quarter, compared to analysts' expectations of $6.36 billion. On average, analysts forecast that Neste OYJ - Unsponsored ADR will post 1.90 earnings per share for the current fiscal year.

About Neste OYJ

Neste Oyj is a Finland-based company that produces renewable fuels and refined petroleum products. Its renewable products include renewable diesel and sustainable aviation fuel, which are made primarily from waste and residue oils and fats. The company also develops renewable raw-material solutions for the polymers and chemicals industries.

Neste operates traditional oil-refining and marketing businesses alongside its renewable fuels operations. Its products are supplied to transportation, aviation, marine, industrial and chemical customers, as well as through fuel stations and other retail channels in selected markets.

Founded in 1948, Neste was established to secure Finland's petroleum supply and was formerly known as Neste Oil.

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