Nokia (NYSE:NOK) Trading Down 2.5% – Should You Sell?

Nokia Corporation (NYSE:NOK) shares were down 2.5% on Monday . The stock traded as low as $9.12 and last traded at $9.13. Approximately 42,422,697 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 81,584,188 shares. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOK. Argus raised shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Monday, April 27th. Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Nordea Equity Research raised Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Northland Securities set a $20.00 price objective on Nokia in a research note on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.57.

Nokia Price Performance

The company has a market cap of $59.15 billion, a P/E ratio of 73.57, a P/E/G ratio of 1.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50. The firm’s fifty day moving average is $11.96 and its two-hundred day moving average is $10.52.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. As a group, analysts anticipate that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia

Institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its stake in Nokia by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of 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 purchasing an additional 3,896,363 shares during the last quarter. ARGA Investment Management LP grew its position in shares of 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 purchasing an additional 12,734,021 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of Nokia by 171.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. Finally, Analog Century Management LP bought a new stake in shares of Nokia in the fourth quarter worth about $104,244,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.