Nokia (NYSE:NOK) Trading 7.1% Higher – Should You Buy?

Nokia Corporation (NYSE:NOK) shares were up 7.1% during mid-day trading on Monday . The company traded as high as $14.56 and last traded at $14.45. Approximately 115,906,785 shares changed hands during trading, an increase of 46% from the average session volume of 79,467,734 shares. The stock had previously closed at $13.49.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Northland Securities set a $20.00 price target on shares of Nokia in a report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price objective on Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

Nokia Trading Up 7.1%

The firm’s 50 day moving average is $13.22 and its 200 day moving average is $9.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The company has a market capitalization of $82.98 billion, a PE ratio of 90.32, a P/E/G ratio of 2.62 and a beta of 1.15.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. The firm had revenue of $5.21 billion for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. As a group, equities analysts predict that Nokia Corporation will post 0.4 EPS for the current year.

Institutional Investors Weigh In On Nokia

Hedge funds and other institutional investors have recently bought and sold shares of the business. Analog Century Management LP bought a new stake in Nokia in the fourth quarter worth $104,244,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Nokia by 50.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Nokia by 166.4% in the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after purchasing an additional 12,734,021 shares during the last quarter. Pzena Investment Management LLC boosted its stake in Nokia by 14.5% in the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after purchasing an additional 11,612,590 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. Hedge funds and other 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.