Outokumpu (OTCMKTS:OUTKY) Sees Large Volume Increase – Time to Buy?

Outokumpu (OTCMKTS:OUTKY) saw an uptick in trading volume on Friday . 2,500 shares changed hands during mid-day trading, an increase of 72% from the previous session’s volume of 1,450 shares.The stock last traded at $2.74 and had previously closed at $2.71.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research raised shares of Outokumpu from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Danske upgraded shares of Outokumpu to a “buy” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft lowered Outokumpu from a “buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Finally, Citigroup restated a “neutral” rating on shares of Outokumpu in a report on Friday, December 5th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Outokumpu Price Performance

The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -22.83 and a beta of 0.56. The business’s 50-day moving average price is $2.38 and its two-hundred day moving average price is $2.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 0.61.

Outokumpu (OTCMKTS:OUTKY) last issued its earnings results on Wednesday, October 29th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $1.52 billion for the quarter. Outokumpu had a negative return on equity of 2.90% and a negative net margin of 1.83%. On average, research analysts forecast that Outokumpu will post 0.07 EPS for the current fiscal year.

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.