Nokia (NYSE:NOK) Stock Price Up 1.8% – Should You Buy?

Nokia Corporation (NYSE:NOK) rose 1.8% on Tuesday . The company traded as high as $13.49 and last traded at $13.27. Approximately 52,692,738 shares traded hands during trading, a decline of 34% from the average daily volume of 80,045,266 shares. The stock had previously closed at $13.03.

Analyst Ratings Changes

NOK has been the topic of several research reports. Northland Securities set a $20.00 price target on shares of Nokia in a research note on Wednesday, June 3rd. The Goldman Sachs Group raised shares of Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research note on Monday, April 13th. Finally, Danske upgraded Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.57.

Nokia Price Performance

The firm has a market cap of $69.25 billion, a P/E ratio of 75.38, a price-to-earnings-growth ratio of 2.58 and a beta of 1.17. The business has a 50-day simple moving average of $13.76 and a 200 day simple moving average of $9.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.57.

Nokia (NYSE:NOK) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The company 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%. On average, analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Nokia

Hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC grew its holdings in Nokia by 14.5% in the fourth 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 period. Arrowstreet Capital Limited Partnership increased its position in Nokia by 9.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after buying an additional 3,896,363 shares in the last quarter. ARGA Investment Management LP raised its stake in Nokia by 166.4% during the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock valued at $163,921,000 after buying an additional 12,734,021 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Nokia by 171.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after acquiring an additional 11,035,002 shares during the last quarter. Finally, Analog Century Management LP purchased a new position in shares of Nokia in the 4th quarter worth about $104,244,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.