Nokia Oyj (NYSE:NOK) Stock Rating Upgraded by StockNews.com

Nokia Oyj (NYSE:NOK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

NOK has been the subject of several other reports. Barclays cut shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lowered their target price on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research note on Tuesday. Finally, BNP Paribas assumed coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Price Performance

Shares of NOK stock traded up $0.06 during trading hours on Friday, hitting $3.52. The company’s stock had a trading volume of 17,394,443 shares, compared to its average volume of 15,326,536. The business has a fifty day moving average of $3.53 and a 200-day moving average of $3.47. The stock has a market cap of $19.80 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 0.93 and a beta of 1.09. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.36. The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, equities research analysts anticipate that Nokia Oyj will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds have recently made changes to their positions in NOK. Banque Cantonale Vaudoise boosted its holdings in shares of Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after purchasing an additional 3,000 shares during the last quarter. Capital Management Associates Inc acquired a new position in shares of Nokia Oyj in the 4th quarter valued at $34,000. Tieton Capital Management LLC acquired a new position in shares of Nokia Oyj during the 4th quarter valued at $34,000. Advisors Asset Management Inc. acquired a new position in shares of Nokia Oyj during the 4th quarter valued at $34,000. Finally, Peapack Gladstone Financial Corp acquired a new position in shares of Nokia Oyj during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.