Nokia Oyj (NYSE:NOK) Short Interest Update

Nokia Oyj (NYSE:NOK) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 48,180,000 shares, a decline of 35.4% from the February 28th total of 74,630,000 shares. Based on an average daily volume of 19,570,000 shares, the short-interest ratio is presently 2.5 days. Approximately 0.9% of the shares of the company are short sold.

Nokia Oyj Price Performance

Nokia Oyj stock traded up $0.02 during mid-day trading on Friday, hitting $5.22. 22,353,100 shares of the company were exchanged, compared to its average volume of 17,152,544. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $5.48. 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 fifty day moving average of $4.96 and a 200 day moving average of $4.62. The company has a market capitalization of $28.44 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its stake in shares of Nokia Oyj by 62.3% in the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock valued at $219,292,000 after buying an additional 19,004,399 shares in the last quarter. Slate Path Capital LP increased its position in Nokia Oyj by 15.6% in the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company’s stock valued at $134,845,000 after acquiring an additional 4,113,884 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Nokia Oyj by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after acquiring an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Nokia Oyj during the fourth quarter worth approximately $53,481,000. Finally, Woodline Partners LP increased its holdings in shares of Nokia Oyj by 125.4% in the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock valued at $53,162,000 after purchasing an additional 6,677,017 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.