Short Interest in Neste Oyj (OTCMKTS:NTOIY) Drops By 35.4%

Neste Oyj (OTCMKTS:NTOIY) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 3,100 shares, a drop of 35.4% from the August 15th total of 4,800 shares. Based on an average trading volume of 44,300 shares, the days-to-cover ratio is currently 0.1 days.

Several brokerages have issued reports on NTOIY. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Neste Oyj in a research report on Tuesday, July 6th. Kepler Capital Markets cut Neste Oyj to a “hold” rating and set a $54.00 target price on the stock. in a research report on Friday, July 2nd. Royal Bank of Canada raised Neste Oyj from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, August 24th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Neste Oyj in a research report on Wednesday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.00.

Shares of Neste Oyj stock traded down $0.84 during trading on Monday, reaching $29.85. The company’s stock had a trading volume of 16,900 shares, compared to its average volume of 22,475. Neste Oyj has a 1-year low of $25.75 and a 1-year high of $39.42. The company has a 50-day simple moving average of $30.69 and a two-hundred day simple moving average of $30.68.

About Neste Oyj

Neste Corp. engages in the production of petroleum products and supply of renewable diesel. It operates through the following segments: Renewable Products, Oil Products, Marketing & Services, and Others. The Renewable Products segment produces, markets, and sells renewable diesel, renewable jet fuels and solutions, renewable solvents as well as raw material for bioplastics.

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