Nokia Oyj (NYSE:NOK) Rating Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a report released on Wednesday morning.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Craig Hallum upped their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Northland Securities reissued an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.62.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.66 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $25.41 billion, a price-to-earnings ratio of 58.25, a price-to-earnings-growth ratio of 5.80 and a beta of 1.06. The firm has a 50 day moving average of $4.42 and a 200 day moving average of $4.25. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $4.95.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The firm had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. On average, sell-side analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Maverick Capital Ltd. purchased a new stake in shares of Nokia Oyj during the second quarter valued at $1,240,000. FMR LLC grew its stake in Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Nokia Oyj in the third quarter valued at about $1,417,000. QRG Capital Management Inc. raised its stake in shares of Nokia Oyj by 92.8% in the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after purchasing an additional 255,893 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Nokia Oyj by 1,101.8% during the third quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock worth $786,000 after purchasing an additional 164,883 shares during the period. Hedge funds and other institutional investors 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.