Maytus Capital Management LLC purchased a new stake in Nokia Co. (NYSE:NOK) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 500,000 shares of the technology company’s stock, valued at approximately $1,980,000.
Other large investors also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Nokia by 121.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,469 shares of the technology company’s stock valued at $29,000 after acquiring an additional 4,095 shares during the period. WASHINGTON TRUST Co grew its position in Nokia by 3,404.7% in the first quarter. WASHINGTON TRUST Co now owns 7,500 shares of the technology company’s stock valued at $30,000 after acquiring an additional 7,286 shares during the period. RMR Wealth Builders bought a new stake in Nokia in the fourth quarter valued at $36,000. Biltmore Capital Advisors LLC bought a new stake in shares of Nokia during the fourth quarter worth $39,000. Finally, Gateway Advisory LLC bought a new stake in shares of Nokia during the first quarter worth $40,000. Hedge funds and other institutional investors own 8.46% of the company’s stock.
Shares of NOK traded down $0.03 during trading hours on Friday, hitting $5.41. 611,047 shares of the stock traded hands, compared to its average volume of 73,284,203. The company has a quick ratio of 1.40, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. Nokia Co. has a 1-year low of $3.21 and a 1-year high of $9.79. The stock has a market capitalization of $30.39 billion, a price-to-earnings ratio of -12.60, a PEG ratio of 12.81 and a beta of 0.79. The firm has a fifty day simple moving average of $4.71.
NOK has been the topic of several research analyst reports. SEB Equity Research upgraded Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 30th. Liberum Capital upgraded Nokia from a “hold” rating to a “buy” rating in a report on Thursday, June 3rd. SEB Equities upgraded Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 30th. Credit Suisse Group restated a “neutral” rating on shares of Nokia in a report on Friday, April 30th. Finally, Morgan Stanley raised Nokia from an “equal weight” rating to an “overweight” rating in a research note on Friday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.00.
Nokia Corporation provides mobile and fixed network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It focuses on mobile radio including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises; and provides network planning and optimization, network implementation, and systems integration, as well as company-wide managed services.
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