Nokia Oyj (NYSE:NOK) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a report published on Monday morning.

Several other equities research analysts have also recently issued reports on NOK. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Northland Securities reiterated an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Craig Hallum boosted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj currently has a consensus rating of “Moderate Buy” and an average target price of $5.86.

Nokia Oyj Stock Up 1.4 %

NOK opened at $4.79 on Monday. The stock has a market cap of $26.09 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 5.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The firm’s fifty day moving average is $4.46 and its 200 day moving average is $4.35. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $4.95.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. On average, sell-side analysts forecast that Nokia Oyj will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Nokia Oyj by 1,012.3% in the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after acquiring an additional 27,755,460 shares during the last quarter. XTX Topco Ltd bought a new stake in Nokia Oyj in the third quarter worth about $1,417,000. QRG Capital Management Inc. boosted its position in shares of Nokia Oyj by 92.8% during the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock valued at $2,324,000 after buying an additional 255,893 shares during the period. IHT Wealth Management LLC grew its stake in shares of Nokia Oyj by 1,101.8% during the third quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock valued at $786,000 after buying an additional 164,883 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Nokia Oyj in the third quarter worth approximately $821,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.