Nokia Oyj (NYSE:NOK) Shares Gap Up to $3.30

Nokia Oyj (NYSE:NOK)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.30, but opened at $3.37. Nokia Oyj shares last traded at $3.37, with a volume of 5,826,819 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NOK. The Goldman Sachs Group downgraded Nokia Oyj from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $5.10 to $3.40 in a research report on Monday, December 18th. BNP Paribas began coverage on Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating on the stock. Barclays cut Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. reduced their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. The stock has a market cap of $18.87 billion, a P/E ratio of 28.00, a PEG ratio of 0.93 and a beta of 1.09. The business has a 50 day moving average price of $3.55 and a 200 day moving average price of $3.48.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. During the same quarter in the previous year, the firm posted $0.16 EPS. As a group, sell-side analysts expect that Nokia Oyj will post 0.38 EPS for the current year.

Institutional Trading of Nokia Oyj

A number of hedge funds have recently bought and sold shares of NOK. 180 Wealth Advisors LLC increased its position in shares of Nokia Oyj by 10.4% during the first quarter. 180 Wealth Advisors LLC now owns 62,290 shares of the technology company’s stock worth $221,000 after purchasing an additional 5,850 shares in the last quarter. DGS Capital Management LLC increased its position in shares of Nokia Oyj by 8.4% during the first quarter. DGS Capital Management LLC now owns 58,572 shares of the technology company’s stock worth $207,000 after purchasing an additional 4,544 shares in the last quarter. Murphy Pohlad Asset Management LLC increased its position in shares of Nokia Oyj by 28.8% during the first quarter. Murphy Pohlad Asset Management LLC now owns 723,845 shares of the technology company’s stock worth $2,562,000 after purchasing an additional 161,665 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Nokia Oyj by 36.1% during the first quarter. Ballentine Partners LLC now owns 42,984 shares of the technology company’s stock worth $152,000 after purchasing an additional 11,392 shares in the last quarter. Finally, First Affirmative Financial Network increased its position in shares of Nokia Oyj by 10.3% during the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after purchasing an additional 2,932 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Oyj Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.