Nokian Renkaat Oyj (OTCMKTS:NKRKY) Sees Significant Decline in Short Interest

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

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 analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Nokian Renkaat Oyj Trading Up 1.3%

OTCMKTS NKRKY opened at $8.48 on Thursday. Nokian Renkaat Oyj has a 52 week low of $4.24 and a 52 week high of $8.90. The company has a 50 day moving average price of $7.57 and a 200 day moving average price of $6.51.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last announced its earnings results on Friday, July 17th. The company reported $0.08 earnings per share 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.