Nokia (NYSE:NOK) Stock Price Up 8.7% – Time to Buy?

Nokia Corporation (NYSE:NOK) shares rose 8.7% during mid-day trading on Thursday . The stock traded as high as $12.91 and last traded at $12.9850. 40,696,038 shares traded hands during trading, a decline of 49% from the average daily volume of 79,167,805 shares. The stock had previously closed at $11.95.

Nokia News Roundup

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia announced a partnership with NestAI to build AI-enabled defense capabilities using resilient connectivity, deployable 5G, and sensing technologies for military operations in denied environments. Nokia and NestAI build capability for AI-enabled defense operations with resilient connectivity in denied environments
• Positive Sentiment: Investors are focusing on Nokia’s expanding role in AI networking and cloud infrastructure, including new attention around AI-enabled networks and the company’s push into the AI data center boom. Nokia (NOK) Taps SAP and Microsoft: Cloud and AI in Focus
• Neutral Sentiment: A fresh valuation write-up suggested Nokia could be about 12% undervalued based on discounted cash flow, but also warned that market multiples still look rich, leaving the stock’s fair value debate unresolved. Nokia (HLSE:NOKIA) Stock May Be 12% Undervalued On Fresh AI Network News
• Neutral Sentiment: Other coverage compared Nokia with Viavi in AI networking and discussed retro feature phones with AI features, which may support longer-term brand interest but is less likely to move the stock materially. Nokia vs. Viavi: Which AI Networking Stock is the Better Buy?
• Negative Sentiment: One market update noted Nokia shares had slipped earlier in the week, suggesting some traders were taking profits despite the recent AI-driven optimism. Nokia shares slip Wednesday morning: What’s driving the action?

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NOK shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Northland Securities set a $20.00 target price on shares of Nokia in a research note on Wednesday, June 3rd. Arete Research upgraded Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Bank of America upgraded Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a research report on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Nokia has a consensus rating of “Moderate Buy” and an average target price of $12.57.

Nokia Price Performance

The firm has a market cap of $75.01 billion, a price-to-earnings ratio of 81.22, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average price is $13.93 and its 200-day moving average price is $9.93.

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

Institutional Trading of Nokia

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

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.