Nokia Oyj (NYSE:NOK) Short Interest Down 20.8% in June

Nokia Oyj (NYSE:NOK) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 14,670,000 shares, a decline of 20.8% from the June 15th total of 18,520,000 shares. Based on an average trading volume of 13,500,000 shares, the short-interest ratio is presently 1.1 days. Approximately 0.3% of the company’s shares are short sold.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock traded up $0.05 on Friday, reaching $3.99. 12,466,248 shares of the company were exchanged, compared to its average volume of 11,215,365. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.36. The firm has a market cap of $22.04 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 1.24 and a beta of 1.12. The company’s 50-day moving average is $3.82 and its two-hundred day moving average is $3.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.64.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.19 billion. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. As a group, research analysts expect that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

Institutional investors and hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. increased its stake in shares of Nokia Oyj by 24.1% in the second quarter. QRG Capital Management Inc. now owns 275,829 shares of the technology company’s stock worth $1,043,000 after purchasing an additional 53,589 shares during the period. Simplicity Wealth LLC bought a new position in Nokia Oyj during the second quarter valued at about $39,000. First Affirmative Financial Network increased its stake in Nokia Oyj by 15.7% during the second quarter. First Affirmative Financial Network now owns 36,263 shares of the technology company’s stock valued at $137,000 after acquiring an additional 4,912 shares during the period. Arkfeld Wealth Strategies L.L.C. bought a new position in Nokia Oyj during the second quarter valued at about $67,000. Finally, Five Oceans Advisors increased its stake in Nokia Oyj by 68.7% during the second quarter. Five Oceans Advisors now owns 33,294 shares of the technology company’s stock valued at $126,000 after acquiring an additional 13,558 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.42.

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.