Nokia Oyj (NYSE:NOK) Shares Gap Up – Should You Buy?

Nokia Oyj (NYSE:NOK) gapped up prior to trading on Tuesday . The stock had previously closed at $5.27, but opened at $5.40. Nokia Oyj shares last traded at $5.34, with a volume of 2,859,516 shares trading hands.

Analyst Upgrades and Downgrades

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

Nokia Oyj Stock Performance

The stock has a market capitalization of $29.25 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. The company has a 50 day simple moving average of $4.97 and a 200-day simple moving average of $4.63. 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 (NYSE:NOK) last posted its quarterly earnings results 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 net margin of 6.54% and a return on equity of 10.30%. As a group, equities research analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds have recently modified their holdings of NOK. Wellington Management Group LLP purchased a new position in Nokia Oyj in the 4th quarter valued at approximately $2,321,000. Mackenzie Financial Corp purchased a new stake in Nokia Oyj in the fourth quarter valued at approximately $712,000. Forum Financial Management LP increased its stake in Nokia Oyj by 100.1% in the fourth quarter. Forum Financial Management LP now owns 191,570 shares of the technology company’s stock valued at $849,000 after acquiring an additional 95,825 shares during the last quarter. Formidable Asset Management LLC purchased a new position in shares of Nokia Oyj during the 4th quarter valued at about $49,000. Finally, Woodline Partners LP lifted its holdings in shares of Nokia Oyj by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock worth $53,162,000 after acquiring an additional 6,677,017 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

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.