Nokia Oyj (NYSE:NOK) Trading Up 6.5%

Nokia Oyj (NYSE:NOK)’s stock price was up 6.5% during mid-day trading on Wednesday . The stock traded as high as $2.99 and last traded at $3.13, approximately 1,220,879 shares changed hands during trading. A decline of 97% from the average daily volume of 44,669,116 shares. The stock had previously closed at $2.94.

Several equities research analysts recently issued reports on NOK shares. Canaccord Genuity reissued a “buy” rating and set a $5.50 price objective on shares of Nokia Oyj in a research note on Thursday, February 6th. Charter Equity restated a “hold” rating on shares of Nokia Oyj in a research report on Thursday, February 6th. Northland Securities started coverage on Nokia Oyj in a research report on Monday, March 2nd. They set an “outperform” rating and a $6.00 price target on the stock. New Street Research upgraded Nokia Oyj from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 7th. Finally, Raymond James upgraded Nokia Oyj from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $5.50 to $4.50 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $4.81.

The stock has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $4.00. The company has a quick ratio of 1.15, a current ratio of 1.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $16.48 billion, a PE ratio of -315,000.00, a P/E/G ratio of 0.59 and a beta of 0.17.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.38 billion. Nokia Oyj had a positive return on equity of 8.21% and a negative net margin of 0.03%. Research analysts expect that Nokia Oyj will post 0.26 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Folketrygdfondet increased its holdings in shares of Nokia Oyj by 10.5% in the fourth quarter. Folketrygdfondet now owns 27,411,567 shares of the technology company’s stock worth $101,697,000 after buying an additional 2,607,365 shares during the period. Jane Street Group LLC increased its holdings in shares of Nokia Oyj by 4,643.3% in the fourth quarter. Jane Street Group LLC now owns 5,694,280 shares of the technology company’s stock worth $21,125,000 after buying an additional 5,574,232 shares during the period. Credit Suisse AG increased its holdings in shares of Nokia Oyj by 538.9% in the fourth quarter. Credit Suisse AG now owns 4,192,770 shares of the technology company’s stock worth $15,555,000 after buying an additional 3,536,541 shares during the period. Tocqueville Asset Management L.P. increased its holdings in shares of Nokia Oyj by 6.6% in the fourth quarter. Tocqueville Asset Management L.P. now owns 4,181,360 shares of the technology company’s stock worth $15,513,000 after buying an additional 259,665 shares during the period. Finally, Formula Growth Ltd. increased its holdings in shares of Nokia Oyj by 91.3% in the fourth quarter. Formula Growth Ltd. now owns 4,170,000 shares of the technology company’s stock worth $15,471,000 after buying an additional 1,990,000 shares during the period. Hedge funds and other institutional investors own 4.84% of the company’s stock.

Nokia Oyj Company Profile (NYSE:NOK)

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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