Nokian Renkaat Oyj (OTCMKTS:NKRKY) Stock Price Down 1.6% – Time to Sell?

Nokian Renkaat Oyj (OTCMKTS:NKRKY) shares dropped 1.6% during trading on Tuesday . The company traded as low as $6.1765 and last traded at $6.1765. Approximately 432 shares changed hands during trading, a decline of 82% from the average daily volume of 2,363 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Nokian Renkaat Oyj in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Nokian Renkaat Oyj Stock Performance

The stock’s 50-day moving average price is $5.27 and its two-hundred day moving average price is $4.79.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.02 EPS for the quarter. The company had revenue of $402.23 million during 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.