Short Interest in Outokumpu (OTCMKTS:OUTKY) Decreases By 80.5%

Outokumpu (OTCMKTS:OUTKY) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 2,175 shares, a decrease of 80.5% from the July 30th total of 11,153 shares. Based on an average daily trading volume, of 3,555 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the shares of the company are short sold.

Outokumpu Price Performance

Shares of OTCMKTS OUTKY remained flat at $3.27 during trading on Thursday. 2,307 shares of the stock traded hands, compared to its average volume of 1,385. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -32.65 and a beta of 0.72. The firm’s fifty day simple moving average is $3.10 and its two-hundred day simple moving average is $3.12. The company has a quick ratio of 0.60, a current ratio of 1.56 and a debt-to-equity ratio of 0.15. Outokumpu has a 1-year low of $1.90 and a 1-year high of $3.66.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.39%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, analysts anticipate that Outokumpu will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

OUTKY has been the subject of several recent research reports. Oddo Bhf raised shares of Outokumpu to an “outperform” rating in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Finally, Citigroup reissued a “neutral” rating on shares of Outokumpu in a report on Wednesday, May 20th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

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.