Oak Grove Capital LLC Buys 105,500 Shares of Nokia Corporation $NOK

Oak Grove Capital LLC raised its stake in Nokia Corporation (NYSE:NOK) by 202.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 157,500 shares of the technology company’s stock after buying an additional 105,500 shares during the quarter. Oak Grove Capital LLC’s holdings in Nokia were worth $1,597,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NOK. Arrowstreet Capital Limited Partnership grew its holdings in shares of Nokia by 9.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock worth $306,167,000 after acquiring an additional 3,896,363 shares during the period. ARGA Investment Management LP raised its holdings 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 worth $163,921,000 after purchasing an additional 12,734,021 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Nokia by 131.3% during the first quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 7,546,000 shares during the last quarter. Analog Century Management LP purchased a new stake in Nokia during the fourth quarter worth $104,244,000. Finally, Atwood & Palmer Inc. grew its holdings in Nokia by 0.5% in the third quarter. Atwood & Palmer Inc. now owns 2,470,183 shares of the technology company’s stock valued at $25,048,000 after purchasing an additional 12,888 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOK. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research report on Friday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Rosenblatt Securities assumed coverage on shares of Nokia in a research note on Tuesday, September 15th. They issued a “buy” rating and a $15.00 price objective on the stock. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Finally, B. Riley Financial started coverage on shares of Nokia in a research report on Thursday, September 17th. They set a “buy” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.12.

Nokia Trading Up 2.1%

Shares of NOK stock opened at $10.35 on Friday. The company has a market capitalization of $59.43 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 1.21 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $10.24 and a 200 day moving average price of $11.37. Nokia Corporation has a twelve month low of $5.19 and a twelve month high of $17.45.

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

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that develops and supplies communications networking equipment, software and related services. Its offerings support mobile and fixed broadband networks, including radio access networks, core networks, fiber and other fixed-access technologies, IP routing, optical networking, private wireless systems, cloud networking and network automation.

The company serves telecommunications operators, governments, enterprises and other organizations worldwide.