Nokia Oyj (NYSE:NOK) Shares Gap Up – Here’s What Happened

Nokia Oyj (NYSE:NOK) gapped up before the market opened on Tuesday . The stock had previously closed at $5.27, but opened at $5.40. Nokia Oyj shares last traded at $5.34, with a volume of 2,859,516 shares trading hands.

Wall Street Analyst Weigh In

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

Nokia Oyj Stock Up 0.6 %

The company has a market capitalization of $29.28 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $5.00 and its 200 day moving average is $4.64.

Nokia Oyj (NYSE:NOK) last posted its earnings results 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 net margin of 6.54% and a return on equity of 10.30%. Research analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors have recently bought and sold shares of NOK. PEAK6 Investments LLC purchased a new position in shares of Nokia Oyj during the 3rd quarter worth approximately $45,000. Foundations Investment Advisors LLC purchased a new position in Nokia Oyj during the fourth quarter valued at $45,000. D.A. Davidson & CO. bought a new stake in shares of Nokia Oyj during the 4th quarter valued at $46,000. Wedmont Private Capital purchased a new stake in shares of Nokia Oyj in the 4th quarter worth about $47,000. Finally, Wealthstream Advisors Inc. bought a new position in shares of Nokia Oyj in the 4th quarter worth about $49,000. 5.28% of the stock is owned by institutional investors.

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.