StockNews.com Downgrades Nokia Oyj (NYSE:NOK) to Buy

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

Other research analysts have also recently issued reports about the stock. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Craig Hallum increased their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a research report on Thursday, January 16th. Finally, Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research report on Friday, October 18th. One 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, the company has a consensus rating of “Moderate Buy” and an average price target of $5.86.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.79 on Monday. 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 has a market cap of $26.09 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 5.81 and a beta of 1.06. The firm’s 50 day simple moving average is $4.46 and its 200-day simple moving average is $4.35. Nokia Oyj has a one year low of $3.29 and a one year high of $4.95.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data 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, equities analysts predict that Nokia Oyj will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

Large investors have recently made changes to their positions in the business. Checchi Capital Advisers LLC grew its stake in Nokia Oyj by 14.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 20,442 shares of the technology company’s stock worth $91,000 after buying an additional 2,509 shares during the last quarter. Truist Financial Corp boosted its holdings in Nokia Oyj by 15.7% in the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after acquiring an additional 2,710 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Nokia Oyj by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock worth $392,000 after acquiring an additional 2,776 shares during the last quarter. Caprock Group LLC raised its position in shares of Nokia Oyj by 5.5% in the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock valued at $252,000 after purchasing an additional 3,023 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Nokia Oyj by 30.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock worth $59,000 after purchasing an additional 3,199 shares in the last quarter. 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.