Nokia Oyj (NYSE:NOK) Stock Price Up 2.7%

Nokia Oyj (NYSE:NOK) shot up 2.7% during mid-day trading on Thursday . The company traded as high as $3.43 and last traded at $3.42. 3,088,110 shares were traded during trading, a decline of 79% from the average session volume of 15,025,717 shares. The stock had previously closed at $3.33.

Analysts Set New Price Targets

Several analysts have weighed in on NOK shares. JPMorgan Chase & Co. dropped their price objective on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research note on Tuesday. Barclays lowered shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, BNP Paribas began coverage on shares of Nokia Oyj in a report on Friday, January 12th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.42.

Nokia Oyj Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. The business’s 50 day moving average is $3.54 and its two-hundred day moving average is $3.47. The firm has a market capitalization of $19.38 billion, a PE ratio of 27.67, a P/E/G ratio of 0.93 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. During the same period in the previous year, the firm earned $0.16 earnings per share. As a group, research analysts anticipate that Nokia Oyj will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. 180 Wealth Advisors LLC increased its position in Nokia Oyj by 10.4% during the 1st quarter. 180 Wealth Advisors LLC now owns 62,290 shares of the technology company’s stock valued at $221,000 after purchasing an additional 5,850 shares during the period. DGS Capital Management LLC boosted its holdings in shares of Nokia Oyj by 8.4% during the 1st quarter. DGS Capital Management LLC now owns 58,572 shares of the technology company’s stock valued at $207,000 after buying an additional 4,544 shares in the last quarter. Murphy Pohlad Asset Management LLC boosted its holdings in shares of Nokia Oyj by 28.8% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 723,845 shares of the technology company’s stock valued at $2,562,000 after buying an additional 161,665 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Nokia Oyj by 36.1% during the 1st quarter. Ballentine Partners LLC now owns 42,984 shares of the technology company’s stock valued at $152,000 after buying an additional 11,392 shares in the last quarter. Finally, First Affirmative Financial Network boosted its stake in Nokia Oyj by 10.3% in the 1st quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after purchasing an additional 2,932 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.