Nokia (NYSE:NOK) Trading Up 1.6% – Time to Buy?

Nokia Corporation (NYSE:NOK) was up 1.6% on Monday . The company traded as high as $15.06 and last traded at $14.6150. Approximately 102,306,966 shares traded hands during trading, an increase of 35% from the average daily volume of 75,920,547 shares. The stock had previously closed at $14.38.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NOK shares. Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Barclays reiterated an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Bank of America upgraded Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective for the company in a research note on Monday, April 13th. Finally, Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a research 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 issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.71.

Nokia Price Performance

The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $83.92 billion, a price-to-earnings ratio of 91.35, a PEG ratio of 2.78 and a beta of 1.15. The stock has a 50-day moving average price of $12.11 and a 200 day moving average price of $8.75.

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

Institutional Investors Weigh In On Nokia

Institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in shares of Nokia by 34.6% during the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock worth $3,493,000 after purchasing an additional 138,935 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Nokia during the 3rd quarter worth approximately $4,595,000. Polar Asset Management Partners Inc. acquired a new position in shares of Nokia during the 3rd quarter worth approximately $11,910,000. Pzena Investment Management LLC boosted its holdings in shares of Nokia by 14.5% during the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after purchasing an additional 11,612,590 shares during the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new position in shares of Nokia during the 3rd quarter worth approximately $1,261,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Company Profile

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.