Short Interest in Nokia Oyj (NYSE:NOK) Drops By 35.4%

Nokia Oyj (NYSE:NOK) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 48,180,000 shares, a decrease of 35.4% from the February 28th total of 74,630,000 shares. Based on an average daily volume of 19,570,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. PEAK6 Investments LLC acquired a new stake in Nokia Oyj during the third quarter worth about $45,000. Foundations Investment Advisors LLC bought a new stake in shares of Nokia Oyj during the 4th quarter worth approximately $45,000. D.A. Davidson & CO. acquired a new stake in shares of Nokia Oyj during the 4th quarter worth approximately $46,000. Wedmont Private Capital bought a new position in Nokia Oyj in the fourth quarter valued at approximately $47,000. Finally, Wealthstream Advisors Inc. acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $49,000. Institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

NOK has been the subject of several research analyst reports. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Craig Hallum boosted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group lowered Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Nokia Oyj presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj Stock Performance

Shares of NOK traded up $0.07 during mid-day trading on Monday, hitting $5.28. 26,801,228 shares of the company’s stock were exchanged, compared to its average volume of 17,190,990. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $5.48. The stock’s 50-day simple moving average is $4.97 and its 200-day simple moving average is $4.63. The firm has a market cap of $28.76 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. On average, equities research analysts expect that Nokia Oyj will post 0.34 EPS for the current year.

About Nokia Oyj

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.