Nokia Oyj (NYSE:NOK) Downgraded to “Buy” Rating by StockNews.com

Nokia Oyj (NYSE:NOK) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

NOK has been the subject of a number of other research reports. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a research report on Thursday, January 16th. Craig Hallum lifted their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Northland Securities reiterated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.86.

Nokia Oyj Stock Up 0.8 %

Shares of NOK traded up $0.04 during trading hours on Monday, hitting $4.64. The company had a trading volume of 20,336,617 shares, compared to its average volume of 19,284,014. The stock has a market capitalization of $25.27 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 5.81 and a beta of 1.06. The firm has a fifty day moving average price of $4.44 and a 200-day moving average price of $4.33. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $4.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. On average, equities research analysts forecast that Nokia Oyj will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp lifted its position in shares of Nokia Oyj by 15.7% during the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock valued at $76,000 after buying an additional 2,710 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Nokia Oyj by 3.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock worth $392,000 after acquiring an additional 2,776 shares in the last quarter. Caprock Group LLC boosted its stake in Nokia Oyj by 5.5% in the third quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock valued at $252,000 after acquiring an additional 3,023 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Nokia Oyj by 30.8% in the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock worth $59,000 after purchasing an additional 3,199 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.