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

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 584 shares, a decline of 64.7% from the July 30th total of 1,654 shares. Based on an average daily volume of 3,698 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

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

Nokian Renkaat Oyj Stock Performance

Shares of OTCMKTS NKRKY opened at $9.34 on Friday. Nokian Renkaat Oyj has a 12 month low of $4.24 and a 12 month high of $9.63. The company has a 50 day simple moving average of $8.12 and a two-hundred day simple moving average of $6.72.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last released its quarterly earnings data on Friday, July 17th. The company reported $0.08 EPS for the quarter. The business 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.