Traders Purchase Large Volume of Nokia Call Options (NYSE:NOK)

Nokia Corporation (NYSE:NOK) was the recipient of some unusual options trading on Wednesday. Stock traders bought 57,048 call options on the stock. This represents an increase of approximately 18% compared to the average daily volume of 48,184 call options.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group reissued a “neutral” rating on shares of Nokia in a research report on Tuesday, October 28th. JPMorgan Chase & Co. upped their price target on Nokia from $6.00 to $7.10 and gave the stock an “overweight” rating in a report on Friday, October 24th. BNP Paribas upgraded shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Wednesday, September 3rd. Santander lowered shares of Nokia to a “neutral” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nokia presently has an average rating of “Moderate Buy” and a consensus price target of $5.87.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NOK. Artisan Partners Limited Partnership grew its holdings in Nokia by 1.8% in the second quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock worth $560,150,000 after purchasing an additional 1,957,524 shares during the period. Pzena Investment Management LLC increased its position in Nokia by 17.0% during the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after buying an additional 11,667,677 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. Folketrygdfondet grew its stake in shares of Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after acquiring an additional 6,950,487 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Nokia by 35,010.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after purchasing an additional 12,619,099 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors.

Nokia Trading Down 9.1%

NOK stock traded down $0.61 during trading on Wednesday, reaching $6.04. The company had a trading volume of 63,560,462 shares, compared to its average volume of 27,853,830. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. Nokia has a 52 week low of $4.00 and a 52 week high of $8.19. The business has a 50 day moving average of $5.71 and a 200 day moving average of $5.13. The company has a market cap of $32.47 billion, a P/E ratio of 33.53 and a beta of 0.84.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that Nokia will post 0.34 earnings per share for the current fiscal year.

Nokia 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.