DRW Securities LLC Purchases New Stake in Nokia Oyj (NYSE:NOK)

DRW Securities LLC acquired a new position in Nokia Oyj (NYSE:NOK) in the 4th quarter, Holdings Channel reports. The firm acquired 142,100 shares of the technology company’s stock, valued at approximately $630,000.

A number of other hedge funds have also made changes to their positions in NOK. Hel Ved Capital Management Ltd acquired a new position in shares of Nokia Oyj during the fourth quarter worth about $8,001,000. QRG Capital Management Inc. raised its stake in shares of Nokia Oyj by 29.9% during the fourth quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock valued at $3,060,000 after purchasing an additional 158,935 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Nokia Oyj by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 394,867 shares of the technology company’s stock worth $1,749,000 after purchasing an additional 48,509 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Nokia Oyj in the fourth quarter valued at $2,116,000. Finally, Raymond James Financial Inc. acquired a new stake in Nokia Oyj during the 4th quarter valued at $2,961,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Oyj Price Performance

Shares of NOK opened at $4.93 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The firm has a market cap of $26.88 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 6.43 and a beta of 0.97. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $5.48. The stock has a 50 day moving average of $5.04 and a 200-day moving average of $4.67.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. As a group, analysts forecast that Nokia Oyj will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

NOK has been the subject of a number of analyst reports. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com cut Nokia Oyj from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Craig Hallum lifted their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.85.

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.