Brokerages Set Nokia Oyj (NYSE:NOK) Target Price at $5.86

Shares of Nokia Oyj (NYSE:NOK) have earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.86.

A number of research firms have recently weighed in on NOK. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Thursday. Craig Hallum lifted their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a report on Thursday, January 16th.

Institutional Investors Weigh In On Nokia Oyj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Truist Financial Corp grew its position in Nokia Oyj by 15.7% in the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after buying an additional 2,710 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Nokia Oyj by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock worth $392,000 after buying an additional 2,776 shares during the last quarter. Caprock Group LLC grew its position in Nokia Oyj by 5.5% in the third quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock worth $252,000 after buying an additional 3,023 shares during the last quarter. Bleakley Financial Group LLC grew its position in Nokia Oyj by 30.8% in the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock worth $59,000 after buying an additional 3,199 shares during the last quarter. Finally, Profund Advisors LLC grew its position in Nokia Oyj by 3.0% in the second quarter. Profund Advisors LLC now owns 115,950 shares of the technology company’s stock worth $438,000 after buying an additional 3,349 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NOK opened at $4.69 on Friday. The business’s 50 day moving average is $4.41 and its 200-day moving average is $4.30. The stock has a market cap of $25.55 billion, a PE ratio of 58.58, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $4.95.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.