Nokia Oyj (NYSE:NOK) Reaches New 1-Year High – Here’s Why

Nokia Oyj (NYSE:NOK)’s share price reached a new 52-week high on Monday . The stock traded as high as $5.26 and last traded at $5.26, with a volume of 1149705 shares changing hands. The stock had previously closed at $5.23.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NOK shares. The Goldman Sachs Group downgraded 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. JPMorgan Chase & Co. reduced their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Craig Hallum upped their target price 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 and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj Stock Up 0.3 %

The firm’s 50 day moving average is $4.73 and its 200-day moving average is $4.52. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The firm has a market cap of $28.60 billion, a PE ratio of 20.98, a P/E/G ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. As a group, equities research analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of 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 purchasing an additional 27,755,460 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Nokia Oyj by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after acquiring an additional 18,660,482 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Nokia Oyj in the fourth quarter worth about $53,481,000. Pzena Investment Management LLC raised its position in shares of Nokia Oyj by 10.0% during the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock worth $396,735,000 after buying an additional 8,261,407 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Nokia Oyj during the fourth quarter valued at approximately $33,348,000. 5.28% of the stock is owned by institutional investors and hedge funds.

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.