The Goldman Sachs Group Upgrades Nokia (NYSE:NOK) to Neutral

Nokia (NYSE:NOK) was upgraded by equities researchers at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports.

NOK has been the subject of several other reports. Morgan Stanley assumed coverage on shares of Nokia in a research report on Monday, February 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research report on Monday, December 22nd. Argus raised shares of Nokia to a “hold” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their price objective on shares of Nokia from $7.10 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Finally, Kepler Capital Markets raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.01.

Nokia Price Performance

Shares of NYSE NOK opened at $7.97 on Monday. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $8.82. The company has a market cap of $45.74 billion, a PE ratio of 61.27, a P/E/G ratio of 2.76 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The business has a 50-day simple moving average of $7.47 and a two-hundred day simple moving average of $6.53.

Hedge Funds Weigh In On Nokia

Institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC boosted its holdings in shares of Nokia by 14.5% in the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Nokia by 9.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock worth $306,167,000 after purchasing an additional 3,896,363 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Nokia by 171.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares during the last quarter. Folketrygdfondet lifted its position in Nokia by 66.6% during the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after purchasing an additional 6,950,487 shares during the period. Finally, Analog Century Management LP purchased a new stake in Nokia in the fourth quarter valued at $104,244,000. 5.28% of the stock is owned by hedge funds and other 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.