Nokia Sees Unusually High Options Volume (NYSE:NOK)

Nokia Corporation (NYSE:NOK) saw some unusual options trading on Thursday. Investors bought 58,054 call options on the stock. This represents an increase of approximately 27% compared to the typical daily volume of 45,719 call options.

Analyst Ratings Changes

Several brokerages have issued reports on NOK. Kepler Capital Markets raised Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, January 7th. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a research report on Monday. Arete Research cut shares of Nokia from a “buy” rating to a “neutral” rating in a report on Friday, March 13th. Citigroup reiterated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Finally, Argus upgraded Nokia to a “hold” rating in a research note on Wednesday, February 11th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nokia has a consensus rating of “Hold” and a consensus price target of $7.01.

Institutional Trading of Nokia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Jefferies Financial Group Inc. bought a new stake in Nokia during the third quarter worth $4,595,000. Penserra Capital Management LLC grew its stake in shares of Nokia by 38.0% in the 3rd quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock worth $37,328,000 after acquiring an additional 2,136,545 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Nokia by 35,010.3% in the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after purchasing an additional 12,619,099 shares during the last quarter. TSP Capital Management Group LLC boosted its holdings in Nokia by 8.8% during the third quarter. TSP Capital Management Group LLC now owns 2,473,592 shares of the technology company’s stock worth $11,898,000 after purchasing an additional 200,400 shares during the last quarter. Finally, Folketrygdfondet lifted its position in shares of Nokia by 66.6% during the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after buying an additional 6,950,487 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Stock Up 4.5%

NYSE NOK traded up $0.37 during mid-day trading on Thursday, hitting $8.64. The company’s stock had a trading volume of 37,866,199 shares, compared to its average volume of 46,175,340. The firm has a market capitalization of $49.61 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 2.78 and a beta of 0.80. The company’s 50 day simple moving average is $7.57 and its 200 day simple moving average is $6.59. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. Nokia has a twelve month low of $4.00 and a twelve month high of $8.82.

Nokia Company Profile

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.