Outokumpu (OTCMKTS:OUTKY) Stock Short Interest Declines 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. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 1,647 shares, the short-interest ratio is presently 1.5 days.

Outokumpu Trading Up 7.3%

Shares of OTCMKTS:OUTKY traded up $0.18 during midday trading on Monday, reaching $2.63. The company’s stock had a trading volume of 3,202 shares, compared to its average volume of 3,736. Outokumpu has a fifty-two week low of $1.90 and a fifty-two week high of $3.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.60 and a current ratio of 1.53. The firm has a 50 day moving average price of $2.94 and a two-hundred day moving average price of $3.05. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -26.30 and a beta of 0.65.

Outokumpu (OTCMKTS:OUTKY) last released its earnings results on Thursday, July 30th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates 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, analysts forecast that Outokumpu will post 0.10 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup restated a “neutral” rating on shares of Outokumpu in a research report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.