Short Interest in Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY) Grows By 2,405.3%

Key Points

• Short interest in Kone Oyj Unsponsored ADR surged to 33,947 shares as of June 30, up 2,405.3% from 1,355 shares two weeks earlier. Despite the jump, only 0.0% of the stock is currently sold short.
• Analyst sentiment is mixed but leans neutral, with recent upgrades from Evercore and Kepler Capital Markets, yet MarketBeat reports a consensus rating of Hold. Overall, analysts include one Strong Buy, one Buy, three Holds, and two Sells.
• The stock traded near its 52-week low, closing at $28.22 after a modest gain, below both its 50-day and 200-day moving averages. Kone recently missed EPS estimates by $0.01, though revenue came in above expectations.

Kone Oyj Unsponsored ADR (OTCMKTS:KNYJY - Get Free Report) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 33,947 shares, a growth of 2,405.3% from the June 15th total of 1,355 shares. Currently, 0.0% of the company's stock are sold short. Based on an average trading volume of 174,107 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KNYJY shares. Evercore raised Kone Oyj to a "hold" rating in a research report on Monday, April 13th. Kepler Capital Markets upgraded shares of Kone Oyj from a "hold" rating to a "buy" rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Kone Oyj Stock Performance

OTCMKTS:KNYJY traded up $0.14 on Friday, hitting $28.22. The stock had a trading volume of 39,279 shares, compared to its average volume of 71,724. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.64. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 0.18. The business's 50-day simple moving average is $29.06 and its two-hundred day simple moving average is $32.77. Kone Oyj has a 52-week low of $27.48 and a 52-week high of $38.29.

Kone Oyj (OTCMKTS:KNYJY - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Kone Oyj had a net margin of 8.71% and a return on equity of 39.08%. The business had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $2.66 billion. As a group, research analysts predict that Kone Oyj will post 1.27 earnings per share for the current year.

Kone Oyj Company Profile

Kone Oyj is a Finland-based company that designs, manufactures and services elevators, escalators and automatic building doors. Founded in 1910 and headquartered in Espoo, Kone has grown into a global provider of people-flow solutions, supplying new equipment as well as modernization and maintenance services for a wide range of buildings, including residential, commercial, healthcare, retail and transportation facilities.

The company's core activities include the engineering and installation of elevator and escalator systems, ongoing maintenance programs to ensure safety and uptime, and modernization of aging equipment to improve performance and energy efficiency.

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