Nokia Oyj (NOK) Trading Down 6.1%

Nokia Oyj (NYSE:NOK) dropped 6.1% on Friday . The stock traded as low as $5.76 and last traded at $5.88. Approximately 95,613,898 shares were traded during trading, an increase of 245% from the average daily volume of 27,705,906 shares. The stock had previously closed at $6.26.

NOK has been the subject of several recent research reports. TheStreet raised Nokia Oyj from a “c+” rating to a “b-” rating in a report on Monday. Raymond James raised Nokia Oyj from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $4.75 to $7.50 in a report on Tuesday, January 8th. Zacks Investment Research raised Nokia Oyj from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Nordea Equity Research downgraded Nokia Oyj from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BMO Capital Markets raised Nokia Oyj from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $5.00 to $7.50 in a report on Thursday, January 3rd. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $6.81.

The stock has a market capitalization of $35.28 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.08 and a beta of 0.33. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 0.18.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The firm had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.61 billion. Nokia Oyj had a positive return on equity of 8.03% and a negative net margin of 1.58%. As a group, analysts expect that Nokia Oyj will post 0.3 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NOK. First Trust Advisors LP raised its position in Nokia Oyj by 397.2% in the third quarter. First Trust Advisors LP now owns 664,183 shares of the technology company’s stock worth $3,706,000 after acquiring an additional 530,591 shares in the last quarter. Comerica Bank raised its position in Nokia Oyj by 5.6% in the third quarter. Comerica Bank now owns 343,524 shares of the technology company’s stock worth $1,906,000 after acquiring an additional 18,197 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Nokia Oyj by 31.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,077 shares of the technology company’s stock worth $224,000 after acquiring an additional 9,657 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Nokia Oyj in the third quarter worth $927,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Nokia Oyj by 16.4% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 78,093 shares of the technology company’s stock worth $436,000 after acquiring an additional 10,985 shares in the last quarter. Hedge funds and other institutional investors own 6.81% of the company’s stock.

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About Nokia Oyj (NYSE:NOK)

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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