Nokian Renkaat Oyj (OTCMKTS:NKRKY) Short Interest Update

Nokian Renkaat Oyj (OTCMKTS:NKRKY) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 5,471 shares, a growth of 92.8% from the June 30th total of 2,837 shares. Based on an average daily volume of 6,604 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

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

Nokian Renkaat Oyj Trading Up 1.7%

Shares of OTCMKTS NKRKY opened at $8.69 on Thursday. The company’s 50-day simple moving average is $7.07 and its 200-day simple moving average is $6.34. Nokian Renkaat Oyj has a 52-week low of $4.24 and a 52-week high of $8.90.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last released its earnings results on Friday, July 17th. The company reported $0.08 EPS for the quarter. The company had revenue of $441.65 million for the quarter.

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.