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

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 5,471 shares, a growth of 92.8% from the June 30th total of 2,837 shares. Based on an average trading volume of 6,604 shares, the short-interest ratio is currently 0.8 days.

Analyst Ratings Changes

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

Nokian Renkaat Oyj Price Performance

OTCMKTS NKRKY remained flat at $8.78 during trading on Friday. The company’s stock had a trading volume of 308 shares, compared to its average volume of 3,661. The firm’s fifty day simple moving average is $7.13 and its 200 day simple moving average is $6.36. Nokian Renkaat Oyj has a 1 year low of $4.24 and a 1 year high of $8.90.

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