Nokia Oyj (NYSE:NOK) Shares Gap Down – Here’s Why

Nokia Oyj (NYSE:NOK) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.61, but opened at $4.47. Nokia Oyj shares last traded at $4.45, with a volume of 6,300,376 shares changing hands.

Analysts Set New Price Targets

NOK has been the topic of a number of research analyst reports. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday. Craig Hallum lifted their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Finally, Northland Securities reiterated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.86.

Nokia Oyj Trading Up 1.5 %

The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The company has a market cap of $24.56 billion, a PE ratio of 56.31, a P/E/G ratio of 5.61 and a beta of 1.06. The company has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $4.28.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Analysts anticipate that Nokia Oyj will post 0.35 EPS for the current year.

Institutional Trading of Nokia Oyj

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after acquiring an additional 3,427 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Nokia Oyj during the third quarter worth about $44,000. Alternative Investment Advisors LLC. acquired a new stake in shares of Nokia Oyj in the 2nd quarter valued at about $45,000. JGP Wealth Management LLC purchased a new position in Nokia Oyj during the 3rd quarter worth approximately $45,000. Finally, PEAK6 Investments LLC purchased a new stake in Nokia Oyj in the third quarter valued at approximately $45,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.