Nokia Oyj (NYSE:NOK) Sees Large Volume Increase

Nokia Oyj (NYSE:NOK) shares saw unusually-high trading volume on Monday . Approximately 12,317,475 shares traded hands during mid-day trading, a decline of 15% from the previous session’s volume of 14,534,167 shares.The stock last traded at $4.22 and had previously closed at $4.20.

Analysts Set New Price Targets

NOK has been the topic of several recent analyst reports. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st. Northland Securities reiterated an “outperform” rating and set a $6.50 target price (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nokia Oyj presently has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The company has a market capitalization of $23.20 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 5.13 and a beta of 1.12. The business’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $3.80.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. Research analysts anticipate that Nokia Oyj will post 0.36 EPS for the current year.

Institutional Trading of Nokia Oyj

A number of institutional investors have recently added to or reduced their stakes in NOK. Sanctuary Advisors LLC purchased a new stake in shares of Nokia Oyj in the second quarter valued at about $206,000. Truist Financial Corp lifted its holdings in shares of Nokia Oyj by 15.7% in the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock valued at $76,000 after purchasing an additional 2,710 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Nokia Oyj by 31.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 15,209 shares of the technology company’s stock valued at $57,000 after purchasing an additional 3,669 shares in the last quarter. Creative Planning lifted its holdings in shares of Nokia Oyj by 11.3% in the second quarter. Creative Planning now owns 333,066 shares of the technology company’s stock valued at $1,259,000 after purchasing an additional 33,745 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of Nokia Oyj in the second quarter valued at about $1,240,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.