Nokian Renkaat Oyj (OTCMKTS:NKRKF) Trading Down 13.9% – Time to Sell?

Nokian Renkaat Oyj (OTCMKTS:NKRKF)’s stock price dropped 13.9% during trading on Thursday . The company traded as low as $9.93 and last traded at $11.49. Approximately 1,000 shares changed hands during mid-day trading, an increase of 82% from the average daily volume of 550 shares. The stock had previously closed at $13.34.

Wall Street Analysts Forecast Growth

Separately, Danske cut shares of Nokian Renkaat Oyj from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Nokian Renkaat Oyj presently has an average rating of “Hold”.

Nokian Renkaat Oyj Stock Performance

The firm has a fifty day moving average price of $11.85 and a 200 day moving average price of $10.46.

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.