Nokia (NYSE:NOK) Shares Up 6% – Still a Buy?

Nokia Corporation (NYSE:NOK) shot up 6% on Tuesday . The stock traded as high as $10.17 and last traded at $9.92. 97,614,491 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 82,376,258 shares. The stock had previously closed at $9.36.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Bank of America upgraded shares of 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. Barclays restated an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.57.

Nokia Stock Down 1.5%

The company has a market cap of $54.16 billion, a price-to-earnings ratio of 67.37, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The stock has a 50-day simple moving average of $12.47 and a 200-day simple moving average of $10.44. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. As a group, analysts predict that Nokia Corporation will post 0.39 EPS for the current year.

Institutional Trading of Nokia

Institutional investors have recently made changes to their positions in the stock. J2 Capital Management Inc raised its holdings in Nokia by 2.0% during the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock worth $548,000 after buying an additional 1,319 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Nokia by 6.9% in 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% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock worth $97,000 after acquiring an additional 1,483 shares in the last quarter. Xponance LLC raised its holdings 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 period. Finally, Assetmark Inc. raised its holdings in shares of Nokia by 12.1% during the first 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.