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

Shares of Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY) gapped down prior to trading on Tuesday. The stock had previously closed at $18.23, but opened at $17.73. Neste OYJ shares last traded at $17.9490, with a volume of 3,370 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research raised shares of Neste OYJ from a “hold” rating to a “strong-buy” rating in a research report on Monday. The Goldman Sachs Group raised Neste OYJ from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Strong Buy”.

Neste OYJ Trading Up 0.3%

The firm’s 50 day simple moving average is $18.36 and its two-hundred day simple moving average is $16.99. The stock has a market capitalization of $27.67 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.18 and a beta of -0.82. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 0.50.

Neste OYJ (OTCMKTS:NTOIY) last released its quarterly earnings data on Friday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Neste OYJ had a net margin of 7.35% and a return on equity of 19.90%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.19 billion. As a group, analysts forecast that Neste OYJ – Unsponsored ADR will post 1.75 earnings per share for the current fiscal year.

About Neste OYJ

Neste Oyj is a Finland-based company that produces renewable fuels, renewable feedstocks and oil-refining products. Its portfolio includes Neste MY Renewable Diesel, sustainable aviation fuel, renewable gasoline components and solutions for the polymers and chemicals industries. The company uses waste and residue-based raw materials, including used cooking oil and animal fat, in the production of renewable products.

Neste also operates a conventional oil-refining business, supplying products such as gasoline, diesel, jet fuel, base oils and other petroleum products.