Short Interest in Outokumpu (OTCMKTS:OUTKY) Increases By 593.4%

Outokumpu (OTCMKTS:OUTKY) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totaling 6,858 shares, a growth of 593.4% from the May 31st total of 989 shares. Based on an average daily trading volume, of 743 shares, the short-interest ratio is presently 9.2 days. Approximately 0.0% of the shares of the company are short sold.

Outokumpu Price Performance

OTCMKTS:OUTKY remained flat at $3.10 during trading hours on Friday. The company’s stock had a trading volume of 1 shares, compared to its average volume of 545. The company has a quick ratio of 0.60, a current ratio of 1.56 and a debt-to-equity ratio of 0.15. The business has a 50 day simple moving average of $3.30 and a 200-day simple moving average of $2.97. Outokumpu has a 52-week low of $1.89 and a 52-week high of $3.66. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -20.67 and a beta of 0.71.

Analysts Set New Price Targets

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

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.