Nokia (NYSE:NOK) Shares Down 3.3% – Time to Sell?

Nokia Corporation (NYSE:NOK) was down 3.3% during mid-day trading on Wednesday . The company traded as low as $13.32 and last traded at $13.39. Approximately 95,704,398 shares were traded during mid-day trading, an increase of 24% from the average daily volume of 77,110,602 shares. The stock had previously closed at $13.85.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NOK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a report on Friday, May 15th. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a report on Monday, April 13th. Morgan Stanley restated an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, April 27th. Finally, Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

Nokia Stock Performance

The company has a market cap of $76.89 billion, a P/E ratio of 83.69, a price-to-earnings-growth ratio of 2.82 and a beta of 1.15. The company’s 50-day moving average is $12.36 and its two-hundred day moving average is $8.86. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The business had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. Equities analysts predict that Nokia Corporation will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DV Trading LLC bought a new position in Nokia during the first quarter valued at approximately $111,000. Parallel Advisors LLC grew its position in Nokia by 40.1% during the first quarter. Parallel Advisors LLC now owns 43,189 shares of the technology company’s stock valued at $347,000 after acquiring an additional 12,364 shares during the last quarter. NewEdge Advisors LLC grew its position in Nokia by 352.8% during the first quarter. NewEdge Advisors LLC now owns 14,788 shares of the technology company’s stock valued at $119,000 after acquiring an additional 11,522 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in Nokia during the first quarter valued at approximately $2,106,000. Finally, Bank of America Corp DE grew its position in Nokia by 105.2% during the first quarter. Bank of America Corp DE now owns 2,434,347 shares of the technology company’s stock valued at $19,572,000 after acquiring an additional 1,248,249 shares during the last quarter. 5.28% of the stock is currently 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.