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

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY) shares gapped up prior to trading on Wednesday. The stock had previously closed at $17.96, but opened at $18.51. Neste OYJ shares last traded at $18.02, with a volume of 6,690 shares trading hands.

Analysts Set New Price Targets

NTOIY has been the topic of a number of recent analyst reports. Zacks Research raised Neste OYJ from a “hold” rating to a “strong-buy” rating in a research report on Monday. The Goldman Sachs Group raised shares of Neste OYJ from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Neste OYJ Price Performance

The stock has a market capitalization of $27.66 billion, a P/E ratio of 15.71, a PEG ratio of 0.19 and a beta of -0.82. The company has a 50 day moving average of $18.35 and a 200-day moving average of $16.98. 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 issued its earnings results on Friday, July 24th. The company reported $0.58 earnings per share 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. Sell-side analysts predict that Neste OYJ – Unsponsored ADR will post 1.75 EPS for the current year.

Neste OYJ Company Profile

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.