Nokian Renkaat Oyj (OTCMKTS:NKRKF) Stock Price Up 30% – Still a Buy?

Nokian Renkaat Oyj (OTCMKTS:NKRKF) shot up 30% during mid-day trading on Thursday . The stock traded as high as $13.34 and last traded at $13.34. 150 shares were traded during trading, a decline of 75% from the average session volume of 600 shares. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

Separately, Danske downgraded Nokian Renkaat Oyj from a “buy” rating to a “hold” rating in a research note on Wednesday. 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 Price Performance

The firm’s 50-day moving average is $10.38 and its 200 day moving average is $9.63.

Nokian Renkaat Oyj Company Profile

Nokian Renkaat Oyj is a Finland‐based manufacturer of tyres and rubber products, best known for its winter tyre technology. The company’s product portfolio includes winter and all‐season tyres for passenger cars, SUVs and light trucks, as well as heavy‐duty tyres for trucks, buses, earthmovers and industrial equipment. Nokian Renkaat positions itself as a specialist in cold‐climate and all‐season traction solutions, with a strong focus on safety, durability and environmental performance.

The company was established in 1988 through the demerger of Nokia Corporation’s tyre operations, although its rubber production heritage dates back to the late 19th century.