Traders Buy Large Volume of Nokia Oyj Call Options (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the target of some unusual options trading on Thursday. Investors purchased 30,735 call options on the stock. This represents an increase of 211% compared to the typical volume of 9,878 call options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NOK. QRG Capital Management Inc. grew its holdings in shares of Nokia Oyj by 29.9% in the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock worth $3,060,000 after purchasing an additional 158,935 shares during the last quarter. FMR LLC boosted its position in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after buying an additional 27,755,460 shares in the last quarter. XTX Topco Ltd bought a new stake in Nokia Oyj during the third quarter worth about $1,417,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Nokia Oyj by 14.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company’s stock worth $226,000 after buying an additional 6,395 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its stake in shares of Nokia Oyj by 261.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company’s stock valued at $457,000 after acquiring an additional 74,552 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Price Performance

NOK traded down $0.01 during midday trading on Thursday, reaching $5.17. 27,605,829 shares of the company’s stock were exchanged, compared to its average volume of 21,386,861. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $4.70 and a two-hundred day simple moving average of $4.50. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. Nokia Oyj has a one year low of $3.29 and a one year high of $5.23.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, research analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NOK shares. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Craig Hallum lifted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Nokia Oyj has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Company Profile

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.