Nokian Renkaat Oyj (OTCMKTS:NKRKY) Sees Large Decrease in Short Interest

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 1,654 shares, a decrease of 69.8% from the July 15th total of 5,471 shares. Based on an average daily trading volume, of 11,929 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Nokian Renkaat Oyj in a research report on Monday, July 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Nokian Renkaat Oyj Trading Up 0.5%

Shares of Nokian Renkaat Oyj stock traded up $0.04 during trading on Friday, hitting $8.81. 9,751 shares of the company were exchanged, compared to its average volume of 3,647. Nokian Renkaat Oyj has a fifty-two week low of $4.24 and a fifty-two week high of $8.90. The firm has a 50 day moving average price of $7.62 and a 200 day moving average price of $6.53.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last announced its earnings results on Friday, July 17th. The company reported $0.08 EPS for the quarter. The company had revenue of $441.65 million for the quarter.

About Nokian Renkaat Oyj

Nokian Renkaat Oyj, operating under the Nokian Tyres brand, is a Finnish manufacturer specializing in the design, development and production of tires for passenger cars, SUVs, trucks and heavy machinery. The company is particularly renowned for its winter tire technologies, offering a portfolio that includes studded and studless solutions engineered for snow, ice and challenging weather conditions. Nokian also produces all-season and summer tire lines, catering to a broad range of on-road and off-road applications.

The firm traces its origins to the Finnish Rubber Works founded in 1898 and emerged as an independent tire company following a spin-off from Nokia Corporation in 1988.