B. Riley Financial Inc. Sells 42,504 Shares of Nokia Corporation (NOK)
B. Riley Financial Inc. reduced its position in Nokia Corporation (NYSE:NOK) by 43.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,288 shares of the technology company’s stock after selling 42,504 shares during the period. B. Riley Financial Inc.’s holdings in Nokia were worth $337,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of NOK. Tiedemann Wealth Management LLC bought a new position in shares of Nokia in the 3rd quarter worth $114,000. Institute for Wealth Management LLC. bought a new position in shares of Nokia in the 2nd quarter worth $116,000. Geneva Advisors LLC purchased a new stake in Nokia in the 2nd quarter valued at $125,000. Cutter & CO Brokerage Inc. raised its position in Nokia by 8.5% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock valued at $142,000 after buying an additional 1,801 shares during the last quarter. Finally, Strategic Global Advisors LLC purchased a new stake in Nokia in the 3rd quarter valued at $143,000. Institutional investors own 5.89% of the company’s stock.
Shares of Nokia Corporation (NYSE:NOK) traded up $0.02 during trading on Thursday, reaching $4.72. The company’s stock had a trading volume of 10,902,100 shares, compared to its average volume of 13,522,416. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 0.21. The stock has a market cap of $27,430.46, a PE ratio of 13.06, a P/E/G ratio of 1.06 and a beta of 1.27. Nokia Corporation has a 1-year low of $4.50 and a 1-year high of $6.65.
NOK has been the subject of a number of analyst reports. Vetr raised Nokia from a “buy” rating to a “strong-buy” rating and set a $7.22 price target for the company in a research report on Wednesday, August 9th. UBS reissued a “buy” rating on shares of Nokia in a research report on Wednesday, September 20th. BNP Paribas lowered Nokia from a “neutral” rating to an “underperform” rating in a research report on Thursday, September 21st. J P Morgan Chase & Co reissued a “buy” rating on shares of Nokia in a research report on Friday, October 27th. Finally, Canaccord Genuity lowered their price target on Nokia from $7.00 to $5.50 and set a “hold” rating for the company in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $5.72.
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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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