Wartsila (OTCMKTS:WRTBY) Shares Gap Up – Here’s Why

Wartsila (OTCMKTS:WRTBY) shares gapped up before the market opened on Monday. The stock had previously closed at $6.05, but opened at $6.25. Wartsila shares last traded at $6.27, with a volume of 2,319 shares.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WRTBY shares. The Goldman Sachs Group upgraded shares of Wartsila from a “hold” rating to a “buy” rating in a research report on Tuesday, October 6th. Oddo Bhf started coverage on Wartsila in a research note on Tuesday, July 7th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Wartsila from a “hold” rating to a “buy” rating in a report on Wednesday, October 21st. Finally, Citigroup reaffirmed a “sell” rating on shares of Wartsila in a research note on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Wartsila Stock Performance

The firm has a 50 day moving average price of $6.57 and a 200-day moving average price of $7.49.

Wartsila (OTCMKTS:WRTBY) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.07 EPS for the quarter. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Research analysts forecast that Wartsila will post 0.24 earnings per share for the current fiscal year.

Wartsila Company Profile

Wärtsilä Oyj Abp is a Finland-based technology company that provides solutions for the marine and energy industries. The company develops and supplies engines, power-generation systems, energy storage solutions, and related equipment designed to support reliable, efficient and increasingly flexible energy production.

In its Marine business, Wärtsilä provides propulsion systems, engines, hybrid and electric solutions, ship design services, onboard equipment and digital technologies for commercial vessels, cruise ships, ferries and other marine applications.