PVG Asset Management Corp Sells 72,627 Shares of Nokia Oyj (NYSE:NOK)

PVG Asset Management Corp trimmed its position in shares of Nokia Oyj (NYSE:NOK) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 743,010 shares of the technology company’s stock after selling 72,627 shares during the period. Nokia Oyj accounts for approximately 3.9% of PVG Asset Management Corp’s investment portfolio, making the stock its 8th biggest position. PVG Asset Management Corp’s holdings in Nokia Oyj were worth $3,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Balyasny Asset Management LLC acquired a new position in Nokia Oyj during the second quarter worth $2,389,000. Assetmark Inc. boosted its position in Nokia Oyj by 116.2% during the second quarter. Assetmark Inc. now owns 25,619 shares of the technology company’s stock worth $128,000 after purchasing an additional 13,770 shares during the period. Private Advisor Group LLC boosted its position in Nokia Oyj by 107.0% during the second quarter. Private Advisor Group LLC now owns 176,000 shares of the technology company’s stock worth $876,000 after purchasing an additional 90,961 shares during the period. Plancorp LLC boosted its position in Nokia Oyj by 126.8% during the second quarter. Plancorp LLC now owns 22,694 shares of the technology company’s stock worth $114,000 after purchasing an additional 12,687 shares during the period. Finally, Senvest Management LLC bought a new position in Nokia Oyj during the second quarter worth $1,879,000. Institutional investors and hedge funds own 7.55% of the company’s stock.

A number of equities analysts have commented on NOK shares. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Zacks Investment Research raised shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Monday, July 29th. ValuEngine raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Craig Hallum reaffirmed a “buy” rating on shares of Nokia Oyj in a research report on Friday, August 30th. Finally, Charter Equity raised shares of Nokia Oyj from a “market perform” rating to a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $6.79.

Shares of Nokia Oyj stock traded up $0.14 during trading on Friday, reaching $5.29. The company’s stock had a trading volume of 667,145 shares, compared to its average volume of 14,393,059. The business’s 50-day moving average price is $5.15 and its 200-day moving average price is $5.35. The firm has a market cap of $29.03 billion, a PE ratio of 19.61 and a beta of 0.28. Nokia Oyj has a 52 week low of $4.71 and a 52 week high of $6.65. The company has a quick ratio of 1.05, a current ratio of 1.34 and a debt-to-equity ratio of 0.33.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, July 25th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.05. The company had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Nokia Oyj had a negative net margin of 2.26% and a positive return on equity of 7.84%. Nokia Oyj’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities analysts predict that Nokia Oyj will post 0.27 earnings per share for the current year.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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