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

Outokumpu (OTCMKTS:OUTKY) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 989 shares, a growth of 137.7% from the May 14th total of 416 shares. Based on an average daily trading volume, of 1,453 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

OUTKY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a research note on Wednesday, May 13th. Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research report on Tuesday, May 26th. Finally, Citigroup reissued a “neutral” rating on shares of Outokumpu in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Outokumpu Price Performance

OUTKY stock opened at $3.45 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 0.58. The company’s 50 day simple moving average is $3.20 and its 200-day simple moving average is $2.90. Outokumpu has a 12 month low of $1.89 and a 12 month high of $3.65. The firm has a market capitalization of $3.26 billion, a PE ratio of -23.00 and a beta of 0.71.

Outokumpu Company Profile

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.