Nokia (NYSE:NOK) Shares Up 3.9% – What’s Next?

Nokia Corporation (NYSE:NOK)’s stock price traded up 3.9% during trading on Tuesday . The company traded as high as $10.38 and last traded at $10.3510. 33,559,508 shares changed hands during trading, a decline of 59% from the average daily volume of 81,396,039 shares. The stock had previously closed at $9.96.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Danske raised Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a report on Friday, May 15th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Nokia Stock Up 1.8%

The company’s 50-day moving average is $11.02 and its 200 day moving average is $10.80. The stock has a market capitalization of $60.84 billion, a PE ratio of 75.96, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. Nokia’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 EPS. As a group, analysts anticipate that Nokia Corporation will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its position in Nokia by 248.7% during the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after buying an additional 2,721 shares during the last quarter. Smithfield Trust Co purchased a new stake in shares of Nokia in the 4th quarter valued at $35,000. Wexford Capital LP acquired a new stake in Nokia during the 3rd quarter worth about $29,000. CIBC Private Wealth Group LLC raised its stake in shares of Nokia by 86.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,994 shares of the technology company’s stock valued at $39,000 after buying an additional 2,773 shares during the last quarter. Finally, Barclays PLC purchased a new position in Nokia during the fourth quarter valued at approximately $40,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.