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

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY)’s share price gapped down before the market opened on Monday. The stock had previously closed at $18.48, but opened at $17.8901. Neste OYJ shares last traded at $17.8150, with a volume of 18,939 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on NTOIY shares. The Goldman Sachs Group raised Neste OYJ from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Zacks Research upgraded Neste OYJ from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Five 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Neste OYJ Trading Down 3.2%

The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 0.17 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. The business’s fifty day moving average is $18.57 and its two-hundred day moving average is $17.11.

Neste OYJ (OTCMKTS:NTOIY) last issued its quarterly earnings results on Friday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Neste OYJ had a return on equity of 19.90% and a net margin of 7.35%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.19 billion. Equities analysts anticipate that Neste OYJ – Unsponsored ADR will post 1.90 earnings per share for the current fiscal year.

Neste OYJ Company Profile

Neste Oyj is a Finland-based company that produces renewable fuels and refined petroleum products. Its renewable products include renewable diesel and sustainable aviation fuel, which are made primarily from waste and residue oils and fats. The company also develops renewable raw-material solutions for the polymers and chemicals industries.

Neste operates traditional oil-refining and marketing businesses alongside its renewable fuels operations. Its products are supplied to transportation, aviation, marine, industrial and chemical customers, as well as through fuel stations and other retail channels in selected markets.

Founded in 1948, Neste was established to secure Finland’s petroleum supply and was formerly known as Neste Oil.