Nokia Oyj (NYSE:NOK) Upgraded to Strong-Buy at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK – Free Report) from a buy rating to a strong-buy rating in a research report report published on Tuesday.

Separately, Northland Securities reissued an outperform rating and issued a $6.50 price target (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $4.54.

Read Our Latest Stock Report on NOK

Nokia Oyj Trading Up 0.1 %

Nokia Oyj stock opened at $4.36 on Tuesday. The stock has a market capitalization of $24.05 billion, a P/E ratio of 27.22, a PEG ratio of 5.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.52. The stock has a 50-day simple moving average of $4.16 and a 200 day simple moving average of $3.87.

Nokia Oyj (NYSE:NOK – Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. Analysts expect that Nokia Oyj will post 0.36 earnings per share for the current year.

Institutional Trading of Nokia Oyj

Several institutional investors and hedge funds have recently bought and sold shares of NOK. Maverick Capital Ltd. purchased a new stake in Nokia Oyj during the 2nd quarter valued at $1,240,000. PDS Planning Inc lifted its holdings in shares of Nokia Oyj by 46.8% during the 1st quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock valued at $120,000 after buying an additional 10,815 shares during the period. First Affirmative Financial Network increased its position in Nokia Oyj by 10.3% during the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock valued at $111,000 after acquiring an additional 2,932 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Nokia Oyj by 98.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after purchasing an additional 867,297 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in Nokia Oyj by 62.3% in the 1st quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company’s stock worth $63,000 after purchasing an additional 6,768 shares during the period. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Company Profile

(Get Free Report)

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.

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