Nokian Renkaat Oyj (OTCMKTS:NKRKY) Short Interest Down 69.8% in July

Nokian Renkaat Oyj (OTCMKTS:NKRKY) saw a significant decrease in short interest during the month of 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 volume of 11,929 shares, the short-interest ratio is presently 0.1 days.

Nokian Renkaat Oyj Price Performance

NKRKY traded up $0.04 during mid-day trading on Friday, reaching $8.81. 9,751 shares of the company traded hands, compared to its average volume of 3,647. Nokian Renkaat Oyj has a 52-week low of $4.24 and a 52-week high of $8.90. The company’s fifty day moving average price is $7.67 and its 200-day moving average price is $6.54.

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

Analyst Ratings Changes

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

Nokian Renkaat Oyj Company Profile

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.