Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY) Sees Large Decline in Short Interest

Key Points

• Short interest fell 40.2% to 35,474 shares as of October 15, down from 59,307 shares at the end of September. Short interest represented approximately 0.0% of shares outstanding, with a short-interest ratio of 0.4 days.
• Analyst sentiment remained mixed: Zacks Research downgraded Kone Oyj to “strong sell,” while the broader analyst consensus was “Hold.”
• Kone reported quarterly revenue of $3.34 billion, exceeding estimates of $3.23 billion, but earnings of $0.30 per share narrowly missed the $0.31 consensus. The stock recently traded at $30.77, within a 52-week range of $26.52 to $38.29.

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY - Get Free Report) saw a significant drop in short interest in October. As of October 15th, there was short interest totaling 35,474 shares, a drop of 40.2% from the September 30th total of 59,307 shares. Based on an average daily trading volume, of 84,729 shares, the short-interest ratio is presently 0.4 days. Approximately 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Kone Oyj from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Kone Oyj Price Performance

Shares of Kone Oyj stock traded up $0.38 during trading on Friday, hitting $30.77. 23,479 shares of the stock traded hands, compared to its average volume of 73,297. The firm's fifty day moving average is $29.79 and its 200-day moving average is $31.20. Kone Oyj has a 52 week low of $26.52 and a 52 week high of $38.29. The stock has a market cap of $27.89 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.01 and a beta of 0.59. The company has a quick ratio of 0.83, a current ratio of 0.99 and a debt-to-equity ratio of 0.23.

Kone Oyj (OTCMKTS:KNYJY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.01). The company had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.23 billion. Kone Oyj had a net margin of 8.61% and a return on equity of 41.07%. Research analysts expect that Kone Oyj will post 1.19 EPS for the current fiscal year.

About Kone Oyj

KONE Oyj is a Finland-based company that designs, manufactures, installs, modernizes and maintains elevators, escalators and automatic building doors. Its solutions are used in residential, commercial, infrastructure and public buildings, with a focus on improving the movement of people within buildings and urban environments.

The company provides new equipment as well as maintenance and modernization services for existing installations. Its offerings also include digital and connected solutions intended to support equipment monitoring, predictive maintenance, access management and smoother passenger flows.

Founded in 1910, KONE is headquartered in Espoo, Finland, and serves customers internationally across Europe, the Middle East and Africa, the Americas, and the Asia-Pacific region, including Greater China.

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