Neste Oyj (OTCMKTS:NTOIY) Sees Large Increase in Short Interest

Posted by Sarita Garza on May 26th, 2023

Neste Oyj (OTCMKTS:NTOIY – Get Rating) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 8,200 shares, an increase of 182.8% from the April 30th total of 2,900 shares. Based on an average daily trading volume, of 47,600 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

NTOIY has been the subject of a number of recent analyst reports. UBS Group cut Neste Oyj from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 14th. Societe Generale raised Neste Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Neste Oyj has a consensus rating of “Hold” and an average target price of $56.00.

Neste Oyj Stock Up 1.3 %

Shares of NTOIY traded up $0.24 during mid-day trading on Friday, hitting $19.33. The company’s stock had a trading volume of 35,999 shares, compared to its average volume of 29,532. Neste Oyj has a one year low of $19.07 and a one year high of $26.03. The stock’s 50-day moving average is $23.23 and its two-hundred day moving average is $23.70.

Neste Oyj Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, April 21st. Stockholders of record on Thursday, March 30th were given a $0.2322 dividend. This represents a dividend yield of 1.54%. This is a boost from Neste Oyj’s previous dividend of $0.12. The ex-dividend date of this dividend was Wednesday, March 29th. Neste Oyj’s dividend payout ratio is currently 45.88%.

Neste Oyj Company Profile

(Get Rating)

Neste Corp. engages in the production of petroleum products and supply of renewable diesel. It operates through the following segments: Renewable Products, Oil Products, Marketing & Services, and Others. The Renewable Products segment produces, markets, and sells renewable diesel, renewable jet fuels and solutions, renewable solvents as well as raw material for bioplastics.