Nokia (NYSE:NOK) Shares Up 9.1% – Here’s Why

Shares of Nokia Corporation (NYSE:NOK) shot up 9.1% during trading on Friday . The stock traded as high as $15.78 and last traded at $15.4670. 126,246,150 shares were traded during trading, an increase of 83% from the average session volume of 69,164,242 shares. The stock had previously closed at $14.18.

Nokia News Roundup

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia won a U.K. Court of Appeal ruling that blocks Acer and Asus from pursuing London video patent lawsuits, removing a legal overhang and reinforcing Nokia’s patent licensing position. Nokia (NOK) Wins UK Appeal Blocking Acer and Asus Video Patent Lawsuits
• Positive Sentiment: Nokia launched an AI Networking Innovation Lab to accelerate AI-native data center infrastructure, signaling a bigger push into a fast-growing market and strengthening its growth narrative. Nokia launches AI networking lab to drive co-innovation with partners and accelerate next era of AI-native data center networking
• Positive Sentiment: Coverage highlighted Nokia as a momentum stock and noted growing investor enthusiasm around its AI infrastructure strategy, which may be helping keep sentiment strong. Here’s Why Nokia (NOK) is a Strong Momentum Stock
• Neutral Sentiment: Additional articles reiterated Nokia’s AI networking ambitions and its role in next-generation data center technology, reinforcing the same bullish theme rather than adding a new catalyst. Nokia wants to invent the future of AI networking tech

Analyst Upgrades and Downgrades

NOK has been the subject of a number of recent research reports. Barclays reissued an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Santander raised shares of Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective for the company in a report on Monday, April 13th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Finally, 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 report on Monday, April 27th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.71.

Nokia Stock Performance

The stock’s fifty day moving average price is $10.60 and its two-hundred day moving average price is $8.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The company has a market cap of $88.82 billion, a P/E ratio of 96.67, a P/E/G ratio of 2.99 and a beta of 1.12.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.22%. The company had revenue of $5.21 billion during the quarter. As a group, equities analysts predict that Nokia Corporation will post 0.39 earnings per share for the current year.

Nokia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, April 28th were issued a dividend of $0.0468 per share. This is a boost from Nokia’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.2%. Nokia’s payout ratio is currently 81.25%.

Institutional Trading of Nokia

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Arete Wealth Advisors LLC bought a new stake in shares of Nokia during the 1st quarter worth approximately $2,106,000. Bank of America Corp DE increased its position in Nokia by 105.2% during the 1st quarter. Bank of America Corp DE now owns 2,434,347 shares of the technology company’s stock worth $19,572,000 after purchasing an additional 1,248,249 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in Nokia during the 1st quarter worth approximately $369,000. Atreides Management LP acquired a new position in Nokia during the 1st quarter worth approximately $19,955,000. Finally, Opal Capital LLC increased its position in Nokia by 14.0% during the 1st quarter. Opal Capital LLC now owns 394,270 shares of the technology company’s stock worth $3,170,000 after purchasing an additional 48,384 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

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.