Nokia Oyj (NYSE:NOK) Sees Strong Trading Volume – Still a Buy?

Nokia Oyj (NYSE:NOK) saw unusually-high trading volume on Wednesday . Approximately 16,017,831 shares were traded during mid-day trading, an increase of 25% from the previous session’s volume of 12,837,626 shares.The stock last traded at $4.61 and had previously closed at $4.51.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NOK shares. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum raised their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, Nokia Oyj has an average rating of “Moderate Buy” and a consensus target price of $6.62.

Nokia Oyj Stock Up 2.7 %

The company’s 50-day simple moving average is $4.41 and its two-hundred day simple moving average is $4.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The firm has a market capitalization of $25.25 billion, a P/E ratio of 57.88, a P/E/G ratio of 5.80 and a beta of 1.06.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. As a group, research analysts expect that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NOK. Ritholtz Wealth Management bought a new stake in shares of Nokia Oyj during the fourth quarter valued at approximately $162,000. Park Avenue Securities LLC boosted its stake in Nokia Oyj by 71.6% during the fourth quarter. Park Avenue Securities LLC now owns 40,756 shares of the technology company’s stock worth $181,000 after buying an additional 17,006 shares during the period. 180 Wealth Advisors LLC grew its holdings in Nokia Oyj by 6.8% during the 4th quarter. 180 Wealth Advisors LLC now owns 87,663 shares of the technology company’s stock valued at $388,000 after purchasing an additional 5,618 shares during the last quarter. BCS Wealth Management purchased a new stake in shares of Nokia Oyj in the fourth quarter worth approximately $133,000. Finally, Wedmont Private Capital bought a new stake in shares of Nokia Oyj during the fourth quarter worth $47,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.