Nokia (NYSE:NOK) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of Nokia Corporation (NYSE:NOK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.35 and traded as high as $6.51. Nokia shares last traded at $6.47, with a volume of 10,506,136 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Northland Securities set a $7.50 price objective on shares of Nokia in a research note on Friday, October 24th. Santander downgraded shares of Nokia to a “neutral” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. UBS Group reaffirmed a “neutral” rating on shares of Nokia in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group upgraded Nokia from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.10.

Nokia Price Performance

The company’s 50 day simple moving average is $6.50 and its 200 day simple moving average is $5.36. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $37.15 billion, a PE ratio of 35.95 and a beta of 0.77.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Nokia had a return on equity of 8.24% and a net margin of 4.65%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. On average, equities analysts anticipate that Nokia Corporation will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NOK. Arrowstreet Capital Limited Partnership boosted its position in shares of Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after acquiring an additional 14,482,665 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after purchasing an additional 12,619,099 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Nokia by 17.0% in the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after purchasing an additional 11,667,677 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Nokia during the 1st quarter valued at $45,207,000. Finally, Folketrygdfondet increased its holdings in shares of Nokia by 66.6% during the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after buying an additional 6,950,487 shares during the last quarter. Institutional investors and hedge funds 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.