Short Interest in Nokian Renkaat Oyj (OTCMKTS:NKRKY) Expands By 34.1%

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 6,826 shares, an increase of 34.1% from the December 31st total of 5,091 shares. Based on an average daily trading volume, of 4,314 shares, the short-interest ratio is presently 1.6 days. Based on an average daily trading volume, of 4,314 shares, the short-interest ratio is presently 1.6 days.

Nokian Renkaat Oyj Price Performance

NKRKY opened at $6.46 on Friday. Nokian Renkaat Oyj has a one year low of $3.16 and a one year high of $6.65. The stock’s 50 day moving average price is $5.56 and its 200-day moving average price is $4.94.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Nokian Renkaat Oyj in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

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.