Nokian Renkaat Oyj (OTCMKTS:NKRKY) Short Interest Down 64.7% in August

Nokian Renkaat Oyj (OTCMKTS:NKRKY) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 584 shares, a decline of 64.7% from the July 30th total of 1,654 shares. Based on an average trading volume of 3,698 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Nokian Renkaat Oyj in a research note on Monday, July 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Nokian Renkaat Oyj has a consensus rating of “Hold”.

Nokian Renkaat Oyj Stock Up 0.2%

Shares of Nokian Renkaat Oyj stock traded up $0.02 during trading hours on Friday, hitting $9.36. The company’s stock had a trading volume of 729 shares, compared to its average volume of 3,918. Nokian Renkaat Oyj has a 12 month low of $4.24 and a 12 month high of $9.63. The stock has a 50 day moving average of $8.16 and a 200 day moving average of $6.74.

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