Nokian Renkaat Oyj (OTCMKTS:NKRKY) Sees Significant Increase in Short Interest

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 1,602 shares. Based on an average trading volume of 3,954 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

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

Nokian Renkaat Oyj Trading Up 0.1%

Shares of OTCMKTS NKRKY traded up $0.01 during midday trading on Wednesday, hitting $8.95. The company’s stock had a trading volume of 12,286 shares, compared to its average volume of 4,117. The firm’s fifty day moving average price is $8.98 and its 200-day moving average price is $7.20. Nokian Renkaat Oyj has a 1-year low of $4.24 and a 1-year high of $9.63.

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

About Nokian Renkaat Oyj

Nokian Renkaat Oyj, also known as Nokian Tyres plc, is a Finland-based tire manufacturer that develops and produces tires for passenger cars, SUVs, vans, trucks, buses, and heavy machinery. The company is particularly known for its winter tires and products designed for demanding Nordic and other challenging driving conditions.

The company sells tires under the Nokian Tyres brand through tire dealers, automotive retailers, and its Vianor chain of tire and vehicle service centers. Vianor provides tire sales, installation, maintenance, and related automotive services across markets in Northern and Central Europe.

Nokian Tyres traces its roots to Finland’s rubber industry and introduced the world’s first winter tire in 1934.