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

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY) gapped down prior to trading on Friday. The stock had previously closed at $20.13, but opened at $19.50. Neste OYJ shares last traded at $19.5080, with a volume of 9,664 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research lowered Neste OYJ from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. The Goldman Sachs Group upgraded Neste OYJ from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Neste OYJ Trading Down 4.4%

The business’s 50 day simple moving average is $18.29 and its 200-day simple moving average is $16.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 0.81. The stock has a market capitalization of $29.58 billion and a P/E ratio of 16.80.

Neste OYJ (OTCMKTS:NTOIY) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Neste OYJ had a return on equity of 19.90% and a net margin of 7.35%.The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.19 billion. As a group, analysts forecast that Neste OYJ – Unsponsored ADR will post 1.73 EPS for the current year.

Neste OYJ Company Profile

Neste Oyj is a Finland-based company that produces renewable fuels and other renewable products. Its portfolio includes Neste MY Renewable Diesel, sustainable aviation fuel, renewable feedstocks, and renewable solutions for polymers and chemicals. The company also produces and markets conventional oil products, including transportation fuels and refinery products.

Founded in 1948, Neste was established as Finland’s national oil company and was formerly known as Neste Oil. It adopted the name Neste in 2015 as its business increasingly focused on renewable and circular solutions.