Nokia Oyj (NYSE:NOK) saw a significant decrease in short interest in August. As of August 15th, there was short interest totalling 28,717,790 shares, a decrease of 9.3% from the July 31st total of 31,647,632 shares. Based on an average trading volume of 10,424,541 shares, the short-interest ratio is presently 2.8 days.

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its position in Nokia Oyj by 3.5% in the first quarter. Wells Fargo & Company MN now owns 294,283 shares of the technology company’s stock valued at $1,609,000 after purchasing an additional 9,947 shares in the last quarter. Stifel Financial Corp grew its position in Nokia Oyj by 8.9% in the first quarter. Stifel Financial Corp now owns 130,910 shares of the technology company’s stock valued at $708,000 after purchasing an additional 10,753 shares in the last quarter. Guggenheim Capital LLC grew its position in Nokia Oyj by 14.5% in the first quarter. Guggenheim Capital LLC now owns 86,972 shares of the technology company’s stock valued at $476,000 after purchasing an additional 10,991 shares in the last quarter. Cetera Advisor Networks LLC grew its position in Nokia Oyj by 77.4% in the first quarter. Cetera Advisor Networks LLC now owns 26,232 shares of the technology company’s stock valued at $141,000 after purchasing an additional 11,443 shares in the last quarter. Finally, AMG National Trust Bank grew its position in Nokia Oyj by 2.2% in the second quarter. AMG National Trust Bank now owns 530,620 shares of the technology company’s stock valued at $3,051,000 after purchasing an additional 11,516 shares in the last quarter. 6.83% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on NOK shares. Nordea Equity Research downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. ValuEngine downgraded shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. Santander downgraded shares of Nokia Oyj from a “hold” rating to an “underperform” rating in a research report on Monday, June 18th. BNP Paribas raised shares of Nokia Oyj from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 19th. Finally, Exane BNP Paribas raised shares of Nokia Oyj from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Nokia Oyj currently has an average rating of “Hold” and a consensus target price of $5.61.

Nokia Oyj stock opened at $5.62 on Friday. The firm has a market capitalization of $32.16 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 2.97 and a beta of 1.13. Nokia Oyj has a 1-year low of $4.51 and a 1-year high of $6.41. The company has a quick ratio of 1.14, a current ratio of 1.37 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, July 26th. The technology company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.18 billion. Nokia Oyj had a negative net margin of 4.56% and a positive return on equity of 9.10%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. research analysts anticipate that Nokia Oyj will post 0.26 earnings per share for the current year.

Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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