Nokia Oyj (NYSE:NOK) Shares Gap Up to $3.30

Shares of Nokia Oyj (NYSE:NOK) gapped up before the market opened on Tuesday . The stock had previously closed at $3.30, but opened at $3.37. Nokia Oyj shares last traded at $3.37, with a volume of 5,826,819 shares traded.

Analyst Upgrades and Downgrades

NOK has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays lowered shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Finally, BNP Paribas assumed coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Price Performance

The company has a market capitalization of $18.70 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. The company’s 50 day simple moving average is $3.54 and its 200 day simple moving average is $3.47.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, sell-side analysts predict that Nokia Oyj will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Nokia Oyj

Several large investors have recently modified their holdings of NOK. Pzena Investment Management LLC boosted its holdings in shares of Nokia Oyj by 13,524.2% in the third quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company’s stock valued at $160,039,000 after acquiring an additional 42,477,173 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Nokia Oyj by 10.8% in the third quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company’s stock valued at $380,290,000 after acquiring an additional 9,908,461 shares during the period. Millennium Management LLC boosted its holdings in shares of Nokia Oyj by 55.0% in the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after acquiring an additional 9,842,934 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Nokia Oyj by 35.1% in the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock valued at $140,358,000 after acquiring an additional 7,419,900 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Nokia Oyj by 93.1% during the first quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock worth $54,203,000 after purchasing an additional 5,321,714 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

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.