Nokia Oyj (NYSE:NOK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a hold rating to a buy rating in a research note released on Tuesday morning.

A number of other research firms have also recently commented on NOK. Craig Hallum raised their price target 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. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj currently has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Performance

NOK stock opened at $5.13 on Tuesday. The firm has a market cap of $27.94 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $5.07 and a 200-day moving average price of $4.69. Nokia Oyj has a 1-year low of $3.36 and a 1-year high of $5.48.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share 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%. As a group, equities research analysts expect that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently made changes to their positions in NOK. QRG Capital Management Inc. increased its holdings in Nokia Oyj by 31.0% during the 1st quarter. QRG Capital Management Inc. now owns 904,816 shares of the technology company’s stock worth $4,768,000 after purchasing an additional 214,159 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Nokia Oyj during the first quarter worth $91,000. Mission Wealth Management LP raised its position in Nokia Oyj by 2.9% in the 1st quarter. Mission Wealth Management LP now owns 91,067 shares of the technology company’s stock valued at $480,000 after buying an additional 2,593 shares during the last quarter. Retirement Solution LLC bought a new position in Nokia Oyj during the 1st quarter valued at $81,000. Finally, Ritholtz Wealth Management grew its stake in shares of Nokia Oyj by 23.1% in the 1st quarter. Ritholtz Wealth Management now owns 45,105 shares of the technology company’s stock worth $238,000 after acquiring an additional 8,469 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.