Nokia Corporation (NYSE:NOK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Nokia Corporation (NYSE:NOKGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $7.0140.

NOK has been the subject of several recent analyst reports. Citigroup reiterated a “sell” rating on shares of Nokia in a research note on Friday, January 23rd. Arete Research downgraded shares of Nokia from a “buy” rating to a “neutral” rating in a report on Friday, March 13th. Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, January 7th. Danske downgraded shares of Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a research report on Monday, December 1st.

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Nokia News Roundup

Here are the key news stories impacting Nokia this week:

Hedge Funds Weigh In On Nokia

Several hedge funds have recently bought and sold shares of NOK. Fifth Third Bancorp boosted its stake in shares of Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after acquiring an additional 2,721 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after purchasing an additional 4,684 shares during the last quarter. Dorato Capital Management purchased a new stake in shares of Nokia in the fourth quarter valued at $31,000. Smithfield Trust Co acquired a new position in Nokia in the fourth quarter valued at $35,000. Finally, Wexford Capital LP acquired a new position in Nokia in the third quarter valued at $29,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Stock Down 4.2%

NYSE NOK opened at $8.06 on Friday. Nokia has a 52 week low of $4.00 and a 52 week high of $8.82. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $7.45 and its 200-day simple moving average is $6.48. The firm has a market cap of $46.28 billion, a PE ratio of 62.00, a P/E/G ratio of 2.91 and a beta of 0.80.

Nokia Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nokia (NYSE:NOK)

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