Nokia Corporation (NOK) Short Interest Up 62.3% in September
Nokia Corporation (NYSE:NOK) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 23,407,349 shares, an increase of 62.3% from the August 31st total of 14,426,078 shares. Based on an average trading volume of 12,218,410 shares, the short-interest ratio is presently 1.9 days.
A number of equities analysts have commented on the company. BMO Capital Markets set a $6.00 target price on Nokia Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. BidaskClub cut Nokia Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 price target on shares of Nokia Corporation in a report on Thursday, July 27th. Vetr raised Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.22 price target on the stock in a report on Wednesday, August 9th. Finally, Citigroup Inc. started coverage on Nokia Corporation in a report on Thursday, June 8th. They set a “neutral” rating and a $6.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.91.
A number of hedge funds and other institutional investors have recently made changes to their positions in NOK. Nationwide Fund Advisors lifted its holdings in Nokia Corporation by 3.8% in the first quarter. Nationwide Fund Advisors now owns 51,500 shares of the technology company’s stock valued at $279,000 after buying an additional 1,900 shares during the period. Wells Fargo & Company MN lifted its holdings in Nokia Corporation by 216.6% in the first quarter. Wells Fargo & Company MN now owns 819,744 shares of the technology company’s stock valued at $4,443,000 after buying an additional 560,797 shares during the period. First Trust Advisors LP lifted its holdings in Nokia Corporation by 10.7% in the first quarter. First Trust Advisors LP now owns 750,118 shares of the technology company’s stock valued at $4,066,000 after buying an additional 72,290 shares during the period. US Bancorp DE lifted its holdings in Nokia Corporation by 21.3% in the first quarter. US Bancorp DE now owns 73,962 shares of the technology company’s stock valued at $401,000 after buying an additional 12,963 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Nokia Corporation by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 225,237 shares of the technology company’s stock valued at $1,221,000 after buying an additional 12,008 shares during the period. Institutional investors and hedge funds own 5.85% of the company’s stock.
Nokia Corporation (NYSE:NOK) opened at 5.98 on Friday. Nokia Corporation has a 12-month low of $4.04 and a 12-month high of $6.65. The company’s market cap is $33.80 billion. The firm has a 50 day moving average price of $6.25 and a 200 day moving average price of $6.01.
Nokia Corporation (NYSE:NOK) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Nokia Corporation had a negative net margin of 1.78% and a positive return on equity of 8.20%. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the firm earned $0.03 earnings per share. Nokia Corporation’s revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that Nokia Corporation will post $0.30 earnings per share for the current fiscal year.
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Nokia Corporation Company Profile
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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