Nokia (NYSE:NOK) Shares Up 3.9% – What’s Next?

Nokia Corporation (NYSE:NOK) shares rose 3.9% during trading on Tuesday . The company traded as high as $10.38 and last traded at $10.3510. 33,559,508 shares were traded during mid-day trading, a decline of 59% from the average session volume of 81,396,039 shares. The stock had previously closed at $9.96.

More Nokia News

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia’s continued visibility in consumer electronics may provide modest brand-support benefits as HMD Global launched the Nokia 300 Charge, a rugged feature phone with a 3,700mAh battery, reverse-charging capability and a built-in power bank. The product is positioned as an inexpensive backup phone with unusually long battery life. Nokia 300 Charge launched with 3700mAh battery, reverse charging and rugged design
• Neutral Sentiment: The Nokia 300 Charge launch was also highlighted by technology publications, emphasizing its flashlight, dedicated power-out function and ability to recharge smartphones. While favorable publicity could support Nokia-branded device demand, HMD—not Nokia Corporation—is responsible for the handset business, so the direct effect on NOK’s revenue is likely limited. Nokia’s New Dumbphone Can Recharge Your Smartphone
• Neutral Sentiment: Additional coverage describes the Nokia 300 Charge as a low-cost feature phone with a battery rated for extended use. The launch may reinforce Nokia’s brand recognition in emerging markets, but it is unlikely to significantly change the outlook for Nokia’s core telecom-network, cloud and infrastructure businesses. The new Nokia 300 Charge has a dedicated power out button and a 3,700mAh battery
• Negative Sentiment: Reports that Nokia is exiting or further reducing its presence in China highlight continuing geopolitical and competitive pressure in telecom equipment. The move could reduce exposure to a difficult market and concentrate resources elsewhere, but it also underscores lost market opportunity and risks to near-term growth as the global 6G and AI-networking competition intensifies. Nokia China exit deepens telecom split as Nvidia bets on 6G AI

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NOK shares. Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Northland Securities set a $20.00 target price on shares of Nokia in a report on Wednesday, June 3rd. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Nokia presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

Nokia Stock Up 3.9%

The firm has a market capitalization of $59.44 billion, a PE ratio of 73.94, a PEG ratio of 1.20 and a beta of 1.19. The business’s fifty day moving average price is $11.16 and its 200 day moving average price is $10.76. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. On average, equities research analysts forecast that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Greenland Capital Management LP purchased a new stake in Nokia in the 2nd quarter valued at approximately $665,000. HB Wealth Management LLC increased its position in Nokia by 47.3% during the second quarter. HB Wealth Management LLC now owns 36,430 shares of the technology company’s stock worth $484,000 after buying an additional 11,703 shares in the last quarter. Irenic Capital Management LP acquired a new position in shares of Nokia in the second quarter worth $22,974,000. NWF Advisory Services Inc. purchased a new stake in shares of Nokia in the second quarter valued at $185,000. Finally, Syon Capital LLC boosted its stake in shares of Nokia by 12.7% during the second quarter. Syon Capital LLC now owns 11,730 shares of the technology company’s stock valued at $156,000 after acquiring an additional 1,321 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.