The Goldman Sachs Group Downgrades Nokia Oyj (NYSE:NOK) to Sell

Nokia Oyj (NYSE:NOK) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $3.60 price target on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 20.09% from the company’s current price.

A number of other analysts also recently weighed in on NOK. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Northland Securities reiterated an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum upped their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.86.

Nokia Oyj Stock Performance

Shares of NOK opened at $4.51 on Thursday. Nokia Oyj has a one year low of $3.29 and a one year high of $4.95. The company has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $4.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The firm has a market capitalization of $24.56 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 5.61 and a beta of 1.06.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, analysts anticipate that Nokia Oyj will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds have recently added to or reduced their stakes in NOK. GAMMA Investing LLC raised its stake in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in Nokia Oyj in the 3rd quarter worth about $44,000. Alternative Investment Advisors LLC. bought a new position in Nokia Oyj during the 2nd quarter valued at about $45,000. JGP Wealth Management LLC purchased a new stake in shares of Nokia Oyj during the 3rd quarter valued at about $45,000. Finally, PEAK6 Investments LLC bought a new stake in shares of Nokia Oyj in the third quarter worth approximately $45,000. 5.28% of the stock is currently 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.