Nokia Oyj (NYSE:NOK) Given Consensus Rating of “Moderate Buy” by Analysts

Nokia Oyj (NYSE:NOK) has received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.86.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $4.35 to $6.35 in a report on Monday, December 9th. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Thursday. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. Finally, Craig Hallum boosted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th.

Nokia Oyj Price Performance

Shares of NOK opened at $4.51 on Friday. The stock has a market cap of $24.56 billion, a P/E ratio of 56.31, a P/E/G ratio of 5.72 and a beta of 1.06. The business’s fifty day moving average is $4.41 and its 200 day moving average is $4.30. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $4.95.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds have recently made changes to their positions in NOK. Pzena Investment Management LLC boosted its holdings in Nokia Oyj by 10.0% in the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after acquiring an additional 8,261,407 shares in the last quarter. FMR LLC boosted its stake in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares in the last quarter. American Century Companies Inc. increased its position in shares of Nokia Oyj by 10.6% during the second quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock valued at $3,787,000 after buying an additional 96,144 shares during the period. JPMorgan Chase & Co. raised its stake in Nokia Oyj by 2,505.3% in the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock worth $3,191,000 after buying an additional 702,279 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Nokia Oyj in the second quarter worth about $2,501,000. 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.