Nokia (NYSE:NOK) Trading 1.6% Higher – Time to Buy?

Nokia Corporation (NYSE:NOK) rose 1.6% on Monday . The stock traded as high as $15.06 and last traded at $14.6150. Approximately 102,306,966 shares were traded during trading, an increase of 35% from the average daily volume of 75,920,547 shares. The stock had previously closed at $14.38.

Analyst Ratings Changes

NOK has been the topic of a number of research reports. Northland Securities set a $20.00 price target on Nokia in a research note on Wednesday, June 3rd. Nordea Equity Research upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Morgan Stanley reiterated an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Danske downgraded Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Arete Research raised Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Twelve research analysts have rated the stock with a Buy rating, four have issued 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 target price of $10.71.

Nokia Stock Performance

The company has a market capitalization of $76.89 billion, a price-to-earnings ratio of 83.69, a PEG ratio of 2.82 and a beta of 1.15. The stock has a fifty day moving average price of $12.36 and a two-hundred day moving average price of $8.86. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last released its earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The firm had revenue of $5.21 billion during the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. As a group, analysts forecast that Nokia Corporation will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia

A number of institutional investors have recently added to or reduced their stakes in NOK. Fifth Third Bancorp grew its position in Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after acquiring an additional 2,721 shares during the period. Wexford Capital LP purchased a new stake in shares of Nokia in the third quarter worth about $29,000. FNY Investment Advisers LLC boosted its position in shares of Nokia by 33,457.1% in the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after buying an additional 4,684 shares during the period. Dorato Capital Management purchased a new stake in shares of Nokia in the fourth quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nokia in the third quarter worth about $34,000. Hedge funds and other 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.