Outokumpu (OTCMKTS:OUTKY) Shares Gap Down – Here’s What Happened

Outokumpu (OTCMKTS:OUTKY) gapped down prior to trading on Monday . The stock had previously closed at $3.28, but opened at $2.65. Outokumpu shares last traded at $2.65, with a volume of 246 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Finally, Oddo Bhf raised shares of Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Outokumpu Stock Down 19.2%

The stock has a market cap of $2.51 billion, a PE ratio of -17.67 and a beta of 0.71. The business has a 50 day moving average price of $3.30 and a 200 day moving average price of $2.97. The company has a quick ratio of 0.60, a current ratio of 1.56 and a debt-to-equity ratio of 0.15.

About Outokumpu

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.