Nokia Corporation $NOK Shares Purchased by Harvey Partners LLC

Harvey Partners LLC boosted its stake in Nokia Corporation (NYSE:NOK) by 2.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,291,500 shares of the technology company’s stock after acquiring an additional 87,548 shares during the quarter. Nokia comprises 1.8% of Harvey Partners LLC’s holdings, making the stock its 26th biggest position. Harvey Partners LLC’s holdings in Nokia were worth $20,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new position in Nokia in the 3rd quarter worth about $4,595,000. Penserra Capital Management LLC increased its holdings in Nokia by 38.0% in the third quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock worth $37,328,000 after buying an additional 2,136,545 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after acquiring an additional 12,619,099 shares in the last quarter. TSP Capital Management Group LLC lifted its stake in Nokia by 8.8% in the third quarter. TSP Capital Management Group LLC now owns 2,473,592 shares of the technology company’s stock valued at $11,898,000 after acquiring an additional 200,400 shares during the last quarter. Finally, Folketrygdfondet grew its position 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 acquiring an additional 6,950,487 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Stock Performance

NYSE:NOK opened at $8.24 on Monday. The firm has a market capitalization of $47.29 billion, a PE ratio of 63.36, a PEG ratio of 3.01 and a beta of 0.79. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $8.66. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $7.13 and its 200 day simple moving average is $6.26.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOK. New Street Research set a $6.57 price target on shares of Nokia in a research note on Thursday, November 20th. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Santander raised Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a report on Monday, December 1st. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nokia has an average rating of “Moderate Buy” and an average target price of $7.01.

About Nokia

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.