Nokia (NYSE:NOK) Shares Gap Down – Should You Sell?

Nokia Corporation (NYSE:NOK) gapped down before the market opened on Friday . The stock had previously closed at $12.90, but opened at $12.48. Nokia shares last traded at $12.4850, with a volume of 10,113,826 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOK shares. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Northland Securities set a $20.00 target price on Nokia in a report on Wednesday, June 3rd. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, April 27th. Nordea Equity Research raised Nokia from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Finally, Wall Street Zen cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Nokia has an average rating of “Moderate Buy” and an average price target of $12.57.

Nokia Trading Down 4.0%

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 cap of $71.12 billion, a price-to-earnings ratio of 77.47, a P/E/G ratio of 1.70 and a beta of 1.17. The firm’s fifty day moving average price is $13.97 and its 200-day moving average price is $9.97.

Nokia (NYSE:NOK) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share 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, equities analysts expect that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia

A number of institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its stake in Nokia by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after buying an additional 11,612,590 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Nokia by 9.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock worth $306,167,000 after purchasing an additional 3,896,363 shares during the period. ARGA Investment Management LP grew its holdings in shares of Nokia by 166.4% during 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 buying an additional 12,734,021 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of 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 valued at $113,161,000 after purchasing an additional 11,035,002 shares during the period. Finally, Analog Century Management LP purchased a new stake in Nokia in the 4th quarter worth approximately $104,244,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.