Neste OYJ (OTCMKTS:NTOIY) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $16.14 and traded as low as $15.6330. Neste OYJ shares last traded at $15.76, with a volume of 74,713 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NTOIY shares. Zacks Research upgraded shares of Neste OYJ from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. The Goldman Sachs Group upgraded shares of Neste OYJ from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat.com, Neste OYJ currently has an average rating of “Strong Buy”.

Neste OYJ Stock Down 0.8%

The business has a 50 day moving average of $18.39 and a two-hundred day moving average of $16.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.80. The stock has a market capitalization of $24.02 billion, a PE ratio of 8.47, a PEG ratio of 0.15 and a beta of -0.82.

Neste OYJ (OTCMKTS:NTOIY) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.28. Neste OYJ had a net margin of 10.79% and a return on equity of 31.41%. The business had revenue of $7.29 billion for the quarter, compared to analyst estimates of $6.36 billion. Analysts predict that Neste OYJ – Unsponsored ADR will post 1.90 EPS for the current year.

About Neste OYJ

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.