Nokia (NYSE:NOK) Shares Down 3.1% – Time to Sell?

Nokia Corporation (NYSE:NOK) fell 3.1% on Friday . The company traded as low as $14.53 and last traded at $14.80. 112,110,941 shares traded hands during mid-day trading, an increase of 56% from the average session volume of 71,804,984 shares. The stock had previously closed at $15.28.

Analyst Ratings Changes

A number of research firms have recently weighed in on NOK. Arete Research raised Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Argus raised Nokia from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Monday, April 27th. Santander raised Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target for the company in a report on Monday, April 13th. Finally, Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.71.

Nokia Stock Performance

The firm has a market cap of $84.99 billion, a PE ratio of 92.51, a P/E/G ratio of 3.04 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.36. The stock has a 50-day moving average price of $11.19 and a 200 day moving average price of $8.37.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The business had revenue of $5.21 billion during the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. Research analysts forecast that Nokia Corporation will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp grew its position in shares of Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after purchasing an additional 2,721 shares during the period. FNY Investment Advisers LLC grew its position in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock valued at $30,000 after acquiring an additional 4,684 shares during the period. Dorato Capital Management purchased a new stake in Nokia during the fourth quarter valued at about $31,000. Smithfield Trust Co purchased a new stake in Nokia during the fourth quarter valued at about $35,000. Finally, Wexford Capital LP purchased a new stake in Nokia during the third quarter valued at about $29,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.