Nokia Oyj (NYSE:NOK) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Other equities analysts have also issued reports about the company. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities reissued an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nokia Oyj presently has a consensus rating of “Hold” and a consensus target price of $4.56.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $4.86 on Friday. The business has a 50 day simple moving average of $4.39 and a 200 day simple moving average of $4.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The firm has a market capitalization of $26.69 billion, a price-to-earnings ratio of 60.69, a price-to-earnings-growth ratio of 6.20 and a beta of 1.12. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.95.

Institutional Trading of Nokia Oyj

A number of hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC raised its holdings in Nokia Oyj by 29.0% during the first quarter. Pzena Investment Management LLC now owns 67,489,193 shares of the technology company’s stock valued at $238,912,000 after buying an additional 15,175,751 shares in the last quarter. TSP Capital Management Group LLC grew its position in shares of Nokia Oyj by 89.2% in the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock valued at $7,715,000 after purchasing an additional 1,027,600 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Nokia Oyj by 98.3% in the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after purchasing an additional 867,297 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Nokia Oyj in the second quarter valued at about $2,501,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Nokia Oyj in the second quarter valued at about $1,240,000. Hedge funds and other 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.