Short Interest in Nokian Renkaat Oyj (OTCMKTS:NKRKY) Rises By 34.1%

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 6,826 shares, a growth of 34.1% from the December 31st total of 5,091 shares. Based on an average daily volume of 4,314 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 4,314 shares, the short-interest ratio is currently 1.6 days.

Nokian Renkaat Oyj Stock Down 3.8%

Shares of NKRKY stock opened at $6.22 on Tuesday. Nokian Renkaat Oyj has a 52-week low of $3.16 and a 52-week high of $6.65. The company has a 50-day simple moving average of $5.59 and a two-hundred day simple moving average of $4.97.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Nokian Renkaat Oyj in a report on Tuesday, January 6th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average 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.