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

Key Points

• Short interest surged 142.1% to 25,241 shares as of August 31, up from 10,426 shares two weeks earlier. Despite the increase, short interest represents approximately 0.0% of outstanding shares, with a 0.6-day short-interest ratio.
• Kone shares recently traded at $28.71, near the lower end of their 52-week range of $26.52 to $38.29. The company’s latest quarterly results missed expectations, reporting $0.27 in EPS versus a $0.32 consensus and revenue of $3.36 billion versus $3.38 billion expected.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell and a consensus rating of Hold. Zacks Research downgraded the stock to Strong Sell, while Kepler Capital Markets upgraded it to Buy.

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 25,241 shares, a growth of 142.1% from the August 15th total of 10,426 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 44,400 shares, the short-interest ratio is presently 0.6 days.

Kone Oyj Stock Performance

Shares of OTCMKTS KNYJY traded down $0.11 during trading hours on Friday, hitting $28.71. 31,956 shares of the company's stock were exchanged, compared to its average volume of 32,051. Kone Oyj has a 1-year low of $26.52 and a 1-year high of $38.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.99 and a quick ratio of 0.83. The stock has a market capitalization of $26.02 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.69 and a beta of 0.65. The company's 50-day moving average price is $28.98 and its 200-day moving average price is $30.53.

Kone Oyj (OTCMKTS:KNYJY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.38 billion. Kone Oyj had a return on equity of 38.87% and a net margin of 8.33%. On average, sell-side analysts expect that Kone Oyj will post 1.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KNYJY shares. Zacks Research lowered Kone Oyj from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Kepler Capital Markets raised shares of Kone Oyj from a "hold" rating to a "buy" rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold".

About Kone Oyj

Kone Oyj is a Finland-based company that develops, manufactures, sells and services elevators, escalators and automatic building doors. Its solutions are used in residential, commercial and public buildings to support the movement of people and goods, and include equipment, control systems, access solutions and related digital services.

The company also provides maintenance, modernization and replacement services for its own equipment and products from other manufacturers. These services are intended to improve the safety, reliability, energy efficiency and performance of elevators, escalators and building-access systems throughout their operating lives.

Founded in 1910, Kone has grown into an international provider serving customers across Europe, Asia-Pacific, the Middle East, Africa and the Americas.

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