Outokumpu (OTCMKTS:OUTKY) Stock Short Interest Falls 48.9%

Outokumpu (OTCMKTS:OUTKY) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 2,447 shares, a drop of 48.9% from the September 30th total of 4,788 shares. Based on an average trading volume of 1,647 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Outokumpu in a research note on Friday, September 4th. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research report on Tuesday, September 15th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Outokumpu Stock Down 5.0%

Shares of OTCMKTS:OUTKY traded down $0.13 during trading on Friday, hitting $2.45. 85,178 shares of the company’s stock traded hands, compared to its average volume of 881. Outokumpu has a 52 week low of $1.90 and a 52 week high of $3.66. The company has a current ratio of 1.53, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -24.50 and a beta of 0.65. The company has a 50-day moving average price of $2.94 and a 200-day moving average price of $3.05.

Outokumpu (OTCMKTS:OUTKY) last posted its earnings results on Thursday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.97 billion. Outokumpu had a negative return on equity of 2.38% and a negative net margin of 1.48%. As a group, research analysts forecast that Outokumpu will post 0.10 EPS for the current fiscal year.

About Outokumpu

Outokumpu Oyj is a Finland-based stainless steel manufacturer serving customers across Europe, the Americas and other international markets. The company produces stainless steel for applications in industries including construction, automotive, transportation, energy, food processing and industrial equipment.

Its product portfolio includes stainless steel coils, sheets, plates, strips and long products, along with specialized grades designed for demanding environments. Outokumpu also produces ferrochrome, an important raw material used in stainless steel manufacturing, and provides related technical, processing and customer support services.

Outokumpu traces its origins to 1910, when copper ore was discovered in Outokumpu, Finland.