Fortum Oyj (OTCMKTS:FOJCY) Shares Gap Down – Here’s What Happened

Shares of Fortum Oyj (OTCMKTS:FOJCY) gapped down before the market opened on Thursday . The stock had previously closed at $4.59, but opened at $4.37. Fortum Oyj shares last traded at $4.56, with a volume of 5,023 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Fortum Oyj to a “hold” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Fortum Oyj Stock Down 0.4%

The stock has a market capitalization of $20.03 billion and a price-to-earnings ratio of 7.04. The firm has a 50-day moving average of $4.72 and a two-hundred day moving average of $4.70.

Fortum Oyj Company Profile

Fortum Oyj is a Finnish energy company primarily engaged in the production, distribution and sale of electricity and heat. The company’s generation portfolio spans a mix of nuclear, hydroelectric, combined?cycle gas and bioenergy power plants. In addition to large?scale power generation, Fortum operates district heating networks and waste?to?energy facilities, providing heat and power solutions to municipalities, industrial customers and residential users across its core markets.

In its customer solutions segment, Fortum offers electricity retail services, electric vehicle charging infrastructure and energy efficiency solutions.