Nokia Sees Unusually High Options Volume (NYSE:NOK)

Nokia Corporation (NYSE:NOK) saw some unusual options trading activity on Thursday. Stock investors bought 58,054 call options on the stock. This represents an increase of 27% compared to the average daily volume of 45,719 call options.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, January 7th. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a research note on Monday. Arete Research lowered Nokia from a “buy” rating to a “neutral” rating in a research note on Friday, March 13th. Morgan Stanley assumed coverage on Nokia in a research note on Monday, February 9th. They set an “overweight” rating and a $8.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.01.

Nokia Price Performance

Shares of NYSE NOK traded up $0.37 during mid-day trading on Thursday, hitting $8.64. 37,866,199 shares of the stock traded hands, compared to its average volume of 46,175,340. Nokia has a twelve month low of $4.00 and a twelve month high of $8.82. The firm has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $6.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. The company has a market cap of $49.61 billion, a PE ratio of 66.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80.

Hedge Funds Weigh In On Nokia

A number of hedge funds and other institutional investors have recently made changes to their positions in NOK. Janney Montgomery Scott LLC lifted its position in shares of Nokia by 6.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock worth $145,000 after purchasing an additional 1,450 shares during the period. Xponance LLC increased its position in shares of Nokia by 13.0% during the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after buying an additional 1,567 shares during the period. Allworth Financial LP lifted its holdings in Nokia by 7.1% in the third quarter. Allworth Financial LP now owns 24,344 shares of the technology company’s stock valued at $117,000 after buying an additional 1,609 shares during the period. Truist Financial Corp boosted its position in Nokia by 5.7% during the fourth quarter. Truist Financial Corp now owns 30,394 shares of the technology company’s stock valued at $197,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Xponance Inc. grew its holdings in Nokia by 16.7% during the 3rd quarter. Xponance Inc. now owns 12,023 shares of the technology company’s stock worth $58,000 after acquiring an additional 1,717 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

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.