Nokia (NYSE:NOK) Trading Up 1.1% – Still a Buy?

Shares of Nokia Corporation (NYSE:NOK) rose 1.1% during trading on Thursday . The stock traded as high as $14.16 and last traded at $13.96. Approximately 75,599,259 shares changed hands during trading, a decline of 5% from the average session volume of 79,593,602 shares. The stock had previously closed at $13.81.

Trending Headlines about Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia expanded its collaboration with Google Cloud to integrate the Gemini AI platform into its network software, reinforcing its push into AI-driven telecom and data center networking. Nokia (NYSE:NOK) Taps Google Cloud Gemini To Recast Its Network Software Future
• Positive Sentiment: The company also deepened AI-network partnerships with AWS and Databricks, suggesting broader traction for its autonomous networking strategy and cloud-software roadmap. Nokia (HLSE:NOKIA) Expands AWS Google Cloud And Databricks Ties For AI Networks
• Positive Sentiment: Nokia announced it will provide intelligent connectivity for a Finnish Border Guard counter-drone initiative, which adds a defense-use-case win and highlights its secure communications capabilities. Nokia Rises 3% On Finnish Counter-Drone Consortium
• Positive Sentiment: The AWS and Databricks proof-of-concept work supports the view that Nokia is becoming an AI infrastructure play, which is helping investor sentiment. Nokia to provide intelligent connectivity for Finnish Border Guard counter-drone initiative nationwide

Analysts Set New Price Targets

Several research analysts have issued reports on NOK shares. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Barclays restated an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Finally, Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

Nokia Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The business’s 50 day moving average price is $13.47 and its 200 day moving average price is $9.47. The stock has a market capitalization of $80.16 billion, a P/E ratio of 87.26, a price-to-earnings-growth ratio of 2.66 and a beta of 1.15.

Nokia (NYSE:NOK) last issued its quarterly earnings data 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 9.05%. The company had revenue of $5.21 billion for the quarter. Sell-side analysts forecast that Nokia Corporation will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Nokia

Institutional investors and hedge funds have recently modified their holdings of the company. J2 Capital Management Inc grew its holdings in shares of Nokia by 2.0% in the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock worth $548,000 after acquiring an additional 1,319 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Nokia by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after acquiring an additional 1,450 shares during the period. Kathmere Capital Management LLC boosted its position in Nokia by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,483 shares during the last quarter. Xponance LLC grew its stake in shares of Nokia by 13.0% during the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock valued at $88,000 after purchasing an additional 1,567 shares during the period. Finally, Assetmark Inc. increased its position in shares of Nokia by 12.1% during the 1st quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock valued at $118,000 after purchasing an additional 1,591 shares during the last quarter. 5.28% of the stock is currently 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.