Nokia (NYSE:NOK) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Nokia (NYSE:NOK) in a research note released on Monday, MarketBeat.com reports. The brokerage issued an overweight rating and a $8.00 price target on the technology company’s stock.

A number of other analysts also recently issued reports on NOK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. Jefferies Financial Group raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Tuesday, October 28th. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Citigroup restated a “sell” rating on shares of Nokia in a research note on Friday, January 23rd. Finally, New Street Research set a $6.57 price target on Nokia in a research report on Thursday, November 20th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.01.

Nokia Stock Performance

NYSE NOK opened at $7.35 on Monday. The firm has a market capitalization of $42.18 billion, a P/E ratio of 56.50, a PEG ratio of 2.58 and a beta of 0.81. The stock has a 50-day simple moving average of $6.55 and a two-hundred day simple moving average of $5.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $8.19.

Institutional Investors Weigh In On Nokia

Several large investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in Nokia by 248.7% in the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after purchasing an additional 2,721 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after buying an additional 4,684 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of Nokia in the fourth quarter valued at about $31,000. Smithfield Trust Co purchased a new position in shares of Nokia in the fourth quarter worth about $35,000. Finally, Wexford Capital LP acquired a new position in Nokia during the third quarter worth about $29,000. 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.