Nokia (NYSE:NOK) Stock Price Down 2.5% – Should You Sell?

Shares of Nokia Corporation (NYSE:NOK) were down 2.5% during mid-day trading on Monday . The company traded as low as $9.77 and last traded at $9.9560. Approximately 47,224,884 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 81,685,969 shares. The stock had previously closed at $10.21.

Analyst Ratings Changes

NOK has been the subject of several recent research reports. Northland Securities set a $20.00 target price on shares of Nokia in a research report on Wednesday, June 3rd. Danske upgraded Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, Barclays reissued an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nokia has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Nokia Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.22. The company has a market cap of $59.44 billion, a price-to-earnings ratio of 73.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The stock has a 50-day moving average price of $11.09 and a 200 day moving average price of $10.78.

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

Institutional Investors Weigh In On Nokia

Several large investors have recently made changes to their positions in NOK. Analog Century Management LP acquired a new position in shares of Nokia during the fourth quarter worth about $104,244,000. QRG Capital Management Inc. raised its position in Nokia by 34.6% in the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock valued at $3,493,000 after buying an additional 138,935 shares during the last quarter. SummitTX Capital L.P. raised its position in Nokia by 219.4% in the 1st quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company’s stock valued at $1,974,000 after buying an additional 168,688 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in Nokia in the 1st quarter valued at approximately $9,634,000. Finally, Amundi acquired a new position in Nokia during the 1st quarter worth approximately $1,120,000. Institutional investors own 5.28% of the company’s stock.

Nokia Company Profile

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.