Nokian Renkaat Oyj (OTCMKTS:NKRKF) Stock Price Up 30% – Here’s Why

Nokian Renkaat Oyj (OTCMKTS:NKRKF) shot up 30% on Thursday . The stock traded as high as $13.34 and last traded at $13.34. 150 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 600 shares. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

Separately, Danske downgraded shares of Nokian Renkaat Oyj from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Nokian Renkaat Oyj has a consensus rating of “Hold”.

Nokian Renkaat Oyj Price Performance

The stock has a 50 day moving average of $10.32 and a 200-day moving average of $9.58.

About Nokian Renkaat Oyj

Nokian Renkaat Oyj is a Finland‐based manufacturer of tyres and rubber products, best known for its winter tyre technology. The company’s product portfolio includes winter and all‐season tyres for passenger cars, SUVs and light trucks, as well as heavy‐duty tyres for trucks, buses, earthmovers and industrial equipment. Nokian Renkaat positions itself as a specialist in cold‐climate and all‐season traction solutions, with a strong focus on safety, durability and environmental performance.

The company was established in 1988 through the demerger of Nokia Corporation’s tyre operations, although its rubber production heritage dates back to the late 19th century.