Nokian Renkaat Oyj (OTCMKTS:NKRKY) Short Interest Down 25.0% in March

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 11,365 shares, a decrease of 25.0% from the February 26th total of 15,148 shares. Based on an average daily volume of 10,601 shares, the days-to-cover ratio is currently 1.1 days.

Nokian Renkaat Oyj Stock Performance

NKRKY opened at $5.27 on Tuesday. The firm’s 50-day moving average price is $6.04 and its 200-day moving average price is $5.35. Nokian Renkaat Oyj has a 52-week low of $3.28 and a 52-week high of $6.92.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last released its earnings results on Tuesday, February 10th. The company reported $0.07 EPS for the quarter. The company had revenue of $484.74 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Nokian Renkaat Oyj in a research note on Tuesday, January 6th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company 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.