Nokian Renkaat Oyj (OTCMKTS:NKRKY) Stock Falls 4.8% – Here’s Why

Nokian Renkaat Oyj (OTCMKTS:NKRKY) fell 4.8% on Monday. The company traded as low as $7.54 and last traded at $7.56. Approximately 1,979 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 4,027 shares. The stock had previously closed at $7.94.

Analyst Upgrades and Downgrades

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 company has an average rating of “Hold”.

Nokian Renkaat Oyj Stock Down 4.8%

The business’s 50 day simple moving average is $8.84 and its 200-day simple moving average is $7.47.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last posted its quarterly earnings results 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, is a Finland-based tire manufacturer specializing in products designed for demanding weather and road conditions. The company develops and sells tires for passenger cars, SUVs, vans, trucks, buses, and heavy machinery, including winter, all-season, summer, and specialty tires.

Nokian Tyres serves customers primarily in the Nordic countries, other parts of Europe, and North America. Its products are sold through tire dealers, automotive retailers, distributors, and the company’s Vianor service network, which provides tire sales, installation, maintenance, and related automotive services.

The company’s history dates back to the early 20th century, with tire production beginning in Nokia, Finland, in the 1930s.