Nokian Renkaat Oyj (OTCMKTS:NKRKY) Shares Down 5.2% – What’s Next?

Nokian Renkaat Oyj (OTCMKTS:NKRKY) dropped 5.2% during trading on Monday . The stock traded as low as $5.48 and last traded at $5.48. Approximately 5,124 shares changed hands during trading, an increase of 49% from the average daily volume of 3,450 shares. The stock had previously closed at $5.78.

Analysts Set New Price Targets

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

Nokian Renkaat Oyj Price Performance

The stock has a 50-day simple moving average of $6.19 and a 200-day simple moving average of $5.28.

Nokian Renkaat Oyj (OTCMKTS:NKRKY) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.07 EPS for the quarter. The firm had revenue of $484.74 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.