FNY Investment Advisers LLC Purchases Shares of 6,685 Nokia Corporation $NOK

FNY Investment Advisers LLC purchased a new stake in shares of Nokia Corporation (NYSE:NOK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,685 shares of the technology company’s stock, valued at approximately $34,000.

Other hedge funds have also modified their holdings of the company. Harbour Investments Inc. lifted its position in shares of Nokia by 7,046.5% during the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock valued at $27,000 after buying an additional 5,003 shares during the last quarter. Wealthquest Corp purchased a new stake in shares of Nokia during the first quarter valued at about $27,000. Assetmark Inc. lifted its position in shares of Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock valued at $43,000 after buying an additional 7,286 shares during the last quarter. Eagle Strategies LLC purchased a new stake in shares of Nokia during the second quarter valued at about $52,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Nokia during the first quarter valued at about $51,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Price Performance

Shares of NYSE:NOK opened at $6.30 on Friday. Nokia Corporation has a twelve month low of $3.91 and a twelve month high of $6.34. The company’s 50 day moving average is $4.83 and its 200 day moving average is $4.90. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a market cap of $33.87 billion, a PE ratio of 34.97 and a beta of 0.85.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the company earned $0.06 EPS. Nokia’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that Nokia Corporation will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BNP Paribas raised shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Wednesday, September 3rd. BNP Paribas Exane upgraded shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price objective on shares of Nokia from $6.00 to $7.10 and gave the company an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. Finally, Northland Securities set a $7.50 price objective on shares of Nokia in a report on Friday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nokia currently has an average rating of “Moderate Buy” and a consensus target price of $5.87.

Nokia Company Profile

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.