Analysts Set Nokia Corporation (NYSE:NOK) PT at $6.77

Shares of Nokia Corporation (NYSE:NOK) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.7675.

A number of analysts have recently weighed in on NOK shares. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. Northland Securities set a $7.50 target price on Nokia in a research note on Friday, October 24th. Danske upgraded Nokia from a “hold” rating to a “buy” rating in a report on Friday, November 21st. Raymond James Financial reiterated an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd. Finally, Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th.

Nokia Price Performance

Nokia stock traded down $0.01 during midday trading on Thursday, hitting $6.80. 4,512,215 shares of the company’s stock were exchanged, compared to its average volume of 36,367,715. The company has a market cap of $39.02 billion, a P/E ratio of 52.27, a PEG ratio of 2.32 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The stock has a 50-day moving average price of $6.45 and a two-hundred day moving average price of $5.61. Nokia has a 52-week low of $4.00 and a 52-week high of $8.19.

Institutional Investors Weigh In On Nokia

A number of large investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership lifted its holdings in Nokia by 1.8% in the second quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock worth $560,150,000 after buying an additional 1,957,524 shares during the period. Pzena Investment Management LLC raised its position in shares of Nokia by 17.0% in the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after acquiring an additional 11,667,677 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Nokia by 50.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after purchasing an additional 14,482,665 shares during the period. Folketrygdfondet grew its stake in Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after purchasing an additional 6,950,487 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Nokia by 14.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,489,705 shares of the technology company’s stock worth $93,749,000 after purchasing an additional 1,834,562 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Company Profile

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.