Shares of Nokia Oyj (NYSE:NOK) gapped up prior to trading on Monday . The stock had previously closed at $5.21, but opened at $5.32. Nokia Oyj shares last traded at $5.39, with a volume of 6894032 shares trading hands.

NOK has been the subject of a number of recent research reports. Nordea Equity Research downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Tuesday, May 29th. Zacks Investment Research upgraded shares of Nokia Oyj from a “sell” rating to a “hold” rating in a report on Friday, August 17th. ValuEngine downgraded shares of Nokia Oyj from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Santander downgraded shares of Nokia Oyj from a “hold” rating to an “underperform” rating in a report on Monday, June 18th. Finally, BNP Paribas upgraded shares of Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $5.61.

The firm has a market capitalization of $29.96 billion, a PE ratio of 14.62, a P/E/G ratio of 2.76 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 1.14 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, July 26th. The technology company reported $0.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.04. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.18 billion. Nokia Oyj had a negative net margin of 4.56% and a positive return on equity of 9.10%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. research analysts forecast that Nokia Oyj will post 0.26 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Miller Howard Investments Inc. NY boosted its position in shares of Nokia Oyj by 2,240.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 9,611,936 shares of the technology company’s stock worth $55,269,000 after purchasing an additional 9,201,275 shares during the period. Natixis boosted its position in shares of Nokia Oyj by 584.2% during the 2nd quarter. Natixis now owns 5,000,974 shares of the technology company’s stock worth $28,756,000 after purchasing an additional 4,270,000 shares during the period. Alkeon Capital Management LLC purchased a new position in shares of Nokia Oyj during the 1st quarter worth approximately $12,034,000. Wells Fargo & Company MN boosted its position in shares of Nokia Oyj by 528.5% during the 2nd quarter. Wells Fargo & Company MN now owns 1,849,714 shares of the technology company’s stock worth $10,636,000 after purchasing an additional 1,555,431 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its position in shares of Nokia Oyj by 35.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 4,681,323 shares of the technology company’s stock worth $26,918,000 after purchasing an additional 1,212,497 shares during the period. Institutional investors and hedge funds own 6.84% of the company’s stock.

About Nokia Oyj (NYSE:NOK)

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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