Nokian Renkaat Oyj (OTCMKTS:NKRKF) Stock Price Up 22.9% – Still a Buy?

Nokian Renkaat Oyj (OTCMKTS:NKRKF)’s stock price rose 22.9% on Tuesday . The stock traded as high as $14.77 and last traded at $14.77. 1,999 shares changed hands during mid-day trading, an increase of 277% from the average session volume of 530 shares. The stock had previously closed at $12.02.

Analyst Ratings Changes

Separately, Danske upgraded shares of Nokian Renkaat Oyj from a “hold” rating to a “buy” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Nokian Renkaat Oyj Price Performance

The company has a fifty day moving average price of $12.06 and a 200-day moving average price of $11.59.

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.