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

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY – Get Free Report)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $18.97, but opened at $18.3782. Neste OYJ shares last traded at $18.62, with a volume of 7,866 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of Neste OYJ from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Neste OYJ has a consensus rating of “Buy”.

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Neste OYJ Price Performance

The stock has a market cap of $28.52 billion and a PE ratio of 16.20. The business has a fifty day simple moving average of $17.32 and a two-hundred day simple moving average of $16.04. The company has a current ratio of 1.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Neste OYJ (OTCMKTS:NTOIY – Get Free Report) last released its earnings results on Friday, July 24th. The company reported $0.58 EPS 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 during the quarter, compared to analysts’ expectations of $7.19 billion. Research analysts forecast that Neste OYJ – Unsponsored ADR will post 1.62 earnings per share for the current year.

About Neste OYJ

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Neste OYJ is a Finland-based energy company with a strong focus on renewable and circular solutions. Headquartered in Espoo, the company operates one of the world’s largest renewable diesel production networks and offers a wide range of low-carbon fuels, sustainable aviation fuel (SAF) and renewable feedstocks derived from waste and residues. In addition to renewable products, Neste maintains traditional oil refining and marketing operations in selected markets.

The company’s Renewable Products segment processes raw materials such as used cooking oil, animal fat and industrial residues into high-performance renewable diesel and aviation fuel.

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