Short Interest in Nokia Corp. (NOK) Increases By 9.9%
Nokia Corp. (NYSE:NOK) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 43,586,411 shares, a growth of 9.9% from the August 31st total of 39,650,164 shares. Based on an average daily volume of 12,214,962 shares, the days-to-cover ratio is currently 3.6 days.
Nokia Corp. (NYSE:NOK) opened at 5.79 on Friday. The firm has a market cap of $33.42 billion, a P/E ratio of 31.81 and a beta of 1.49. The firm’s 50-day moving average is $5.68 and its 200 day moving average is $5.70. Nokia Corp. has a 12-month low of $5.01 and a 12-month high of $7.63.
Nokia Corp. (NYSE:NOK) last issued its earnings results on Thursday, August 4th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The firm’s revenue for the quarter was up 91.3% on a year-over-year basis. Equities analysts forecast that Nokia Corp. will post $0.20 earnings per share for the current year.
NOK has been the topic of several research reports. Bank of America Corp. reaffirmed a “buy” rating and set a $6.00 price target on shares of Nokia Corp. in a report on Thursday, September 8th. Vetr lowered shares of Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price target on the stock. in a report on Monday, July 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Corp. in a report on Thursday, July 14th. Zacks Investment Research lowered shares of Nokia Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Nokia Corp. in a report on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $7.18.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Prospera Financial Services Inc purchased a new position in shares of Nokia Corp. during the second quarter valued at about $101,000. National Asset Management Inc. purchased a new position in shares of Nokia Corp. during the second quarter valued at about $113,000. Advisor Group Inc. purchased a new position in shares of Nokia Corp. during the second quarter valued at about $127,000. Eqis Capital Management Inc. boosted its position in shares of Nokia Corp. by 1.2% in the second quarter. Eqis Capital Management Inc. now owns 23,380 shares of the technology company’s stock valued at $133,000 after buying an additional 267 shares in the last quarter. Finally, Regentatlantic Capital LLC boosted its position in shares of Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock valued at $134,000 after buying an additional 11,570 shares in the last quarter. Hedge funds and other institutional investors own 4.28% of the company’s stock.
Nokia Corp. Company Profile
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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