Fortum Oyj (OTCMKTS:FOJCY) Short Interest Update

Fortum Oyj (OTCMKTS:FOJCY) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 28,900 shares, a growth of 4,028.6% from the October 15th total of 700 shares. Based on an average daily volume of 11,800 shares, the days-to-cover ratio is currently 2.4 days.

Fortum Oyj Price Performance

FOJCY opened at $2.59 on Friday. The company’s 50-day moving average is $2.43 and its 200 day moving average is $2.60. Fortum Oyj has a fifty-two week low of $2.11 and a fifty-two week high of $3.47.

Fortum Oyj Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, October 2nd were given a dividend of $0.0961 per share. This is a positive change from Fortum Oyj’s previous dividend of $0.06. The ex-dividend date of this dividend was Friday, September 29th. Fortum Oyj’s dividend payout ratio (DPR) is presently 23.57%.

Analysts Set New Price Targets

A number of research firms have commented on FOJCY. Citigroup upgraded shares of Fortum Oyj from a “neutral” rating to a “buy” rating in a report on Tuesday, July 18th. Morgan Stanley started coverage on shares of Fortum Oyj in a research note on Wednesday, August 9th. They issued an “overweight” rating on the stock. Barclays started coverage on shares of Fortum Oyj in a research note on Thursday, September 28th. They issued an “overweight” rating on the stock. Nordea Equity Research raised shares of Fortum Oyj from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Danske lowered shares of Fortum Oyj from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.20.

Fortum Oyj Company Profile

Fortum Oyj, together with its subsidiaries, engages in the generation and sale of electricity and heat in the Nordic countries, Germany, the United Kingdom, Russia, the Netherlands, Sweden, and internationally. The company's Generation segment generates power through nuclear, hydro, wind, and thermal resources; and provides power portfolio optimization, trading, and industrial intelligence, as well as nuclear services.