Nokia Oyj (NYSE:NOK) Trading Up 6.5%

Nokia Oyj (NYSE:NOK) was up 6.5% on Wednesday . The company traded as high as $2.99 and last traded at $3.13, approximately 1,220,879 shares were traded during mid-day trading. A decline of 97% from the average daily volume of 44,669,116 shares. The stock had previously closed at $2.94.

A number of equities analysts recently weighed in on NOK shares. Northland Securities started coverage on shares of Nokia Oyj in a report on Monday, March 2nd. They issued an “outperform” rating and a $6.00 price objective for the company. Charter Equity restated a “hold” rating on shares of Nokia Oyj in a report on Thursday, February 6th. Canaccord Genuity restated a “buy” rating and issued a $5.50 price objective on shares of Nokia Oyj in a report on Thursday, February 6th. Raymond James upgraded shares of Nokia Oyj from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the stock from $5.50 to $4.50 in a report on Monday, January 6th. Finally, New Street Research upgraded shares of Nokia Oyj from a “neutral” rating to a “buy” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $4.81.

The firm has a market capitalization of $16.48 billion, a PE ratio of -315,000.00, a price-to-earnings-growth ratio of 0.59 and a beta of 0.17. The company has a current ratio of 1.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $3.64 and its two-hundred day simple moving average is $4.00.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, February 6th. The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.38 billion. Nokia Oyj had a negative net margin of 0.03% and a positive return on equity of 8.21%. As a group, equities research analysts anticipate that Nokia Oyj will post 0.26 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in NOK. Islay Capital Management LLC purchased a new stake in Nokia Oyj during the 4th quarter valued at $25,000. Weaver Consulting Group raised its stake in Nokia Oyj by 384.6% during the 4th quarter. Weaver Consulting Group now owns 5,040 shares of the technology company’s stock valued at $26,000 after buying an additional 4,000 shares during the last quarter. Whittier Trust Co. raised its stake in Nokia Oyj by 261.2% during the 4th quarter. Whittier Trust Co. now owns 6,914 shares of the technology company’s stock valued at $26,000 after buying an additional 5,000 shares during the last quarter. Verus Capital Partners LLC purchased a new stake in Nokia Oyj during the 4th quarter valued at $33,000. Finally, Huntington National Bank raised its stake in Nokia Oyj by 161.0% during the 4th quarter. Huntington National Bank now owns 10,672 shares of the technology company’s stock valued at $39,000 after buying an additional 6,583 shares during the last quarter. Institutional investors and hedge funds own 4.84% of the company’s stock.

About Nokia Oyj (NYSE:NOK)

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).

Recommended Story: What is the Ex-Dividend Date in Investing?

Receive News & Ratings for Nokia Oyj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Oyj and related companies with MarketBeat.com's FREE daily email newsletter.