Bank of America Corp. cut shares of Nokia Corp. (NYSE:NOK) from a buy rating to a neutral rating in a report published on Tuesday morning.

Several other equities research analysts also recently issued reports on NOK. Vetr upgraded shares of Nokia Corp. from a hold rating to a buy rating and set a $6.10 price objective on the stock in a research note on Tuesday, July 26th. BMO Capital Markets restated a buy rating and issued a $7.00 price objective on shares of Nokia Corp. in a research note on Wednesday, August 3rd. Canaccord Genuity restated a buy rating and issued a $7.00 price objective on shares of Nokia Corp. in a research note on Monday, August 8th. Morgan Stanley restated a neutral rating on shares of Nokia Corp. in a research note on Friday, August 12th. Finally, Argus restated a buy rating and issued a $10.00 price objective on shares of Nokia Corp. in a research note on Monday, August 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Nokia Corp. currently has a consensus rating of Hold and a consensus target price of $9.91.

Nokia Corp. (NYSE:NOK) opened at 4.15 on Tuesday. Nokia Corp. has a 52-week low of $4.04 and a 52-week high of $7.55. The stock’s 50 day moving average is $4.89 and its 200 day moving average is $5.43. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 51.23 and a beta of 1.51.

Institutional investors have recently modified their holdings of the company. Levin Capital Strategies L.P. bought a new position in shares of Nokia Corp. during the second quarter worth about $91,405,000. Emerald Acquisition Ltd. increased its position in shares of Nokia Corp. by 102.5% in the third quarter. Emerald Acquisition Ltd. now owns 10,820,534 shares of the technology company’s stock worth $62,650,000 after buying an additional 5,478,149 shares during the period. Brandes Investment Partners LP bought a new position in shares of Nokia Corp. during the second quarter worth about $55,182,000. Waddell & Reed Financial Inc. increased its position in shares of Nokia Corp. by 16.3% in the second quarter. Waddell & Reed Financial Inc. now owns 7,896,000 shares of the technology company’s stock worth $44,928,000 after buying an additional 1,107,100 shares during the period. Finally, BlackRock Advisors LLC increased its position in shares of Nokia Corp. by 8.9% in the third quarter. BlackRock Advisors LLC now owns 5,229,890 shares of the technology company’s stock worth $30,281,000 after buying an additional 426,080 shares during the period. Institutional investors own 4.34% of the company’s stock.

About Nokia Corp.

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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