Nokia Oyj (NYSE:NOK) Downgraded by StockNews.com to “Buy”

Nokia Oyj (NYSE:NOK) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other equities research analysts have also commented on NOK. Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum upped their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their target price for the company from $4.35 to $6.35 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.62.

Nokia Oyj Stock Performance

NYSE NOK traded up $0.03 during mid-day trading on Wednesday, reaching $4.66. 9,213,331 shares of the stock were exchanged, compared to its average volume of 12,503,738. The company has a market capitalization of $25.41 billion, a P/E ratio of 58.25, a P/E/G ratio of 5.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The business’s 50 day moving average is $4.42 and its 200-day moving average is $4.25. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, equities research analysts forecast that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Trading of Nokia Oyj

Hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. purchased a new stake in shares of Nokia Oyj in the second quarter valued at approximately $1,240,000. FMR LLC boosted its stake in Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after buying an additional 27,755,460 shares during the last quarter. XTX Topco Ltd purchased a new stake in Nokia Oyj in the 3rd quarter valued at $1,417,000. QRG Capital Management Inc. raised its holdings in shares of Nokia Oyj by 92.8% during the 3rd quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after acquiring an additional 255,893 shares during the period. Finally, IHT Wealth Management LLC boosted its position in shares of Nokia Oyj by 1,101.8% during the 3rd quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock valued at $786,000 after acquiring an additional 164,883 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.