Nokia (NYSE:NOK) Trading Up 1.8% – Should You Buy?

Nokia Corporation (NYSE:NOK) shares traded up 1.8% on Tuesday . The company traded as high as $13.49 and last traded at $13.27. Approximately 52,692,738 shares changed hands during trading, a decline of 34% from the average daily volume of 80,045,266 shares. The stock had previously closed at $13.03.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, April 27th. Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Barclays restated an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.57.

Nokia Trading Up 1.8%

The stock has a market capitalization of $76.20 billion, a price-to-earnings ratio of 82.94, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $13.65 and a two-hundred day moving average of $9.62.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The company had revenue of $5.21 billion for the quarter. On average, research analysts expect that Nokia Corporation will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NOK. Pzena Investment Management LLC raised its holdings 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 acquiring an additional 11,612,590 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Nokia by 9.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after acquiring an additional 3,896,363 shares during the period. ARGA Investment Management LP grew its position in shares of Nokia by 166.4% in the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock valued at $163,921,000 after purchasing an additional 12,734,021 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Nokia by 171.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after purchasing an additional 11,035,002 shares during the last quarter. Finally, Analog Century Management LP bought a new position in shares of Nokia in the fourth quarter worth about $104,244,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.