Nokia (NYSE:NOK) Trading Down 5.9% – What’s Next?

Nokia Corporation (NYSE:NOK)’s stock price fell 5.9% on Wednesday . The company traded as low as $8.37 and last traded at $8.40. Approximately 93,250,304 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 82,159,508 shares. The stock had previously closed at $8.93.

Analyst Ratings Changes

NOK has been the subject of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Nokia has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Nokia Stock Up 1.0%

The stock has a 50 day moving average price of $12.97 and a 200 day moving average price of $10.36. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $52.74 billion, a price-to-earnings ratio of 65.54, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $0.04 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Nokia Corporation will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. J2 Capital Management Inc increased its position in shares of Nokia by 2.0% in the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after buying an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Nokia by 6.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock worth $145,000 after acquiring an additional 1,450 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Nokia by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after acquiring an additional 1,483 shares during the period. Xponance LLC increased its holdings in shares of Nokia by 13.0% in the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,567 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Nokia by 12.1% during the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock worth $118,000 after purchasing an additional 1,591 shares during the period. Institutional investors own 5.28% of the company’s stock.

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.