Nokia (NYSE:NOK) Stock Rating Upgraded by Argus

Nokia (NYSE:NOK) was upgraded by research analysts at Argus to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other research firms also recently issued reports on NOK. UBS Group reiterated a “neutral” rating on shares of Nokia in a research note on Tuesday, October 28th. Jefferies Financial Group raised Nokia from a “hold” rating to a “buy” rating in a research report on Tuesday, October 28th. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, January 7th. Finally, Northland Securities set a $7.50 price target on shares of Nokia in a research report on Friday, October 24th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.01.

Nokia Price Performance

NOK opened at $6.99 on Wednesday. The firm has a market capitalization of $40.11 billion, a P/E ratio of 53.73, a PEG ratio of 2.67 and a beta of 0.81. The stock has a fifty day moving average of $6.57 and a 200-day moving average of $5.71. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. Nokia has a 12-month low of $4.00 and a 12-month high of $8.19.

Institutional Trading of Nokia

Several large investors have recently added to or reduced their stakes in NOK. Amundi acquired a new stake in shares of Nokia during the first quarter worth approximately $776,000. AQR Capital Management LLC increased its holdings in Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock valued at $985,000 after purchasing an additional 40,276 shares in the last quarter. Millennium Management LLC raised its position in Nokia by 6,539.2% in the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after purchasing an additional 2,798,758 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Nokia by 6,204.9% in the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock worth $319,000 after purchasing an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after purchasing an additional 1,002,033 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.