Nokia Oyj (NYSE:NOK) Shares Gap Down – Here’s What Happened

Nokia Oyj (NYSE:NOK) gapped down before the market opened on Friday . The stock had previously closed at $4.69, but opened at $4.54. Nokia Oyj shares last traded at $4.53, with a volume of 2,880,700 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Northland Securities restated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research note on Thursday, January 16th. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Thursday. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Craig Hallum lifted their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.86.

Nokia Oyj Stock Performance

The company has a market cap of $24.67 billion, a PE ratio of 56.56, a P/E/G ratio of 5.72 and a beta of 1.06. The company’s fifty day moving average price is $4.41 and its 200 day moving average price is $4.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46.

Institutional Trading of Nokia Oyj

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in Nokia Oyj during the third quarter valued at $44,000. Alternative Investment Advisors LLC. purchased a new stake in Nokia Oyj in the second quarter worth $45,000. JGP Wealth Management LLC bought a new stake in shares of Nokia Oyj in the third quarter valued at $45,000. Finally, PEAK6 Investments LLC purchased a new position in shares of Nokia Oyj during the 3rd quarter valued at $45,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia Oyj

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.