Neste OYJ (OTCMKTS:NTOIY) Shares Gap Up – Here’s Why

Shares of Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY) gapped up before the market opened on Wednesday . The stock had previously closed at $16.60, but opened at $17.76. Neste OYJ shares last traded at $17.27, with a volume of 2,020 shares.

Analyst Ratings Changes

A number of brokerages recently weighed in on NTOIY. Zacks Research lowered shares of Neste OYJ from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. UBS Group raised shares of Neste OYJ from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy”.

Neste OYJ Trading Up 3.4%

The business’s 50-day moving average is $16.61 and its 200 day moving average is $15.16. The firm has a market capitalization of $27.61 billion and a P/E ratio of 15.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.89 and a quick ratio of 0.95.

Neste OYJ (OTCMKTS:NTOIY) last issued its quarterly earnings results on Friday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.19 billion. Neste OYJ had a return on equity of 21.16% and a net margin of 7.35%. As a group, analysts anticipate that Neste OYJ – Unsponsored ADR will post 1.5 EPS for the current fiscal year.

Neste OYJ Company Profile

Neste OYJ is a Finland-based energy company with a strong focus on renewable and circular solutions. Headquartered in Espoo, the company operates one of the world’s largest renewable diesel production networks and offers a wide range of low-carbon fuels, sustainable aviation fuel (SAF) and renewable feedstocks derived from waste and residues. In addition to renewable products, Neste maintains traditional oil refining and marketing operations in selected markets.

The company’s Renewable Products segment processes raw materials such as used cooking oil, animal fat and industrial residues into high-performance renewable diesel and aviation fuel.