Nokia (NYSE:NOK) Stock Price Up 7% – Here’s What Happened

Nokia Corporation (NYSE:NOK) traded up 7% on Tuesday. The stock traded as high as $10.94 and last traded at $10.9150. Approximately 73,503,126 shares changed hands during trading, a decline of 9% from the average session volume of 80,916,773 shares. The stock had previously closed at $10.20.

Key Headlines Impacting Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: AI infrastructure demand remains robust: Hotard said customers could build data centers roughly twice as fast if supply constraints were removed, indicating that demand—not customer interest—is limiting the pace of AI buildouts. This supports Nokia’s opportunity in data-center networking and related infrastructure. Nokia CEO says data centers would be built 2x faster without supply constraints
• Positive Sentiment: Satellite communications partnership: Nokia and ICEYE plan to develop satellite communications networks, potentially expanding Nokia’s addressable market across space, connectivity and government or defense applications. ICEYE, Nokia to Develop Satellite Communications Networks
• Positive Sentiment: AI and 6G positioning: Recent CEO comments highlighted Nokia’s exposure to AI infrastructure, 6G and space, reinforcing the view that the company is seeking growth beyond traditional telecom equipment. Nokia CEO Justin Hotard on AI infrastructure demand, 6G and space
• Positive Sentiment: Analyst sentiment is favorable: Brokerages collectively maintain a “Moderate Buy” recommendation, providing additional support for the stock’s near-term investor sentiment. Nokia receives Moderate Buy consensus recommendation
• Neutral Sentiment: Supply constraints remain a mixed factor: Power availability, memory chips and other equipment are slowing AI data-center construction. The constraints could postpone Nokia-related orders in the near term, but they also underscore substantial unmet demand if supply improves. Nokia CEO on AI data center supply constraints
• Negative Sentiment: Industry and relationship risks: Semiconductor stocks pulled back after a strong rally, creating a broader technology-sector headwind. Separately, InCoax’s shift toward direct sales amid changes in its Nokia relationship introduces a limited channel or partnership concern. InCoax shifts to direct sales amid changes in Nokia relationship

Wall Street Analysts Forecast Growth

NOK has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. Rosenblatt Securities started coverage on shares of Nokia in a research report on Tuesday, September 15th. They issued a “buy” rating and a $15.00 price target for the company. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. B. Riley Financial initiated coverage on Nokia in a research note on Thursday, September 17th. They issued a “buy” rating and a $15.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.12.

Nokia Stock Performance

The firm’s 50 day simple moving average is $10.11 and its 200 day simple moving average is $11.33. The firm has a market cap of $62.68 billion, a PE ratio of 77.96, a PEG ratio of 1.26 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09.

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

Institutional Trading of Nokia

Several hedge funds have recently modified their holdings of the company. Central Pacific Bank Trust Division grew its holdings in shares of Nokia by 45.7% in the third quarter. Central Pacific Bank Trust Division now owns 79,014 shares of the technology company’s stock valued at $801,000 after purchasing an additional 24,765 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Nokia by 69.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,987 shares of the technology company’s stock valued at $265,000 after purchasing an additional 8,225 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Nokia by 15.0% during the second quarter. Sequoia Financial Advisors LLC now owns 112,046 shares of the technology company’s stock valued at $1,488,000 after purchasing an additional 14,657 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Nokia by 47.2% in the 2nd quarter. Tidal Investments LLC now owns 177,142 shares of the technology company’s stock worth $2,352,000 after buying an additional 56,807 shares in the last quarter. Finally, Bienville Capital Management LLC purchased a new position in shares of Nokia in the 2nd quarter worth $1,754,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia

Nokia Oyj is a Finland-based technology company that develops and supplies communications networking equipment, software and related services. Its offerings support mobile and fixed broadband networks, including radio access networks, core networks, fiber and other fixed-access technologies, IP routing, optical networking, private wireless systems, cloud networking and network automation.

The company serves telecommunications operators, governments, enterprises and other organizations worldwide.