Nokia (NYSE:NOK) Stock Price Down 6.8% – Should You Sell?

Nokia Corporation (NYSE:NOK) was down 6.8% during trading on Tuesday . The stock traded as low as $13.83 and last traded at $13.8160. Approximately 75,674,929 shares traded hands during trading, a decline of 3% from the average daily volume of 78,052,609 shares. The stock had previously closed at $14.82.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NOK shares. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Danske lowered shares of Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Argus upgraded shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, April 27th. Northland Securities set a $20.00 price objective on shares of Nokia in a report on Wednesday, June 3rd. Finally, 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 report on Monday, April 13th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.57.

Nokia Stock Performance

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 has a market capitalization of $79.21 billion, a PE ratio of 86.35, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15. The firm’s fifty day moving average is $12.84 and its 200-day moving average is $9.09.

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

Institutional Trading of Nokia

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp increased its stake in Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after purchasing an additional 2,721 shares during the period. FNY Investment Advisers LLC increased its stake in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after purchasing an additional 4,684 shares during the period. Dorato Capital Management purchased a new stake in Nokia during the fourth quarter worth about $31,000. Smithfield Trust Co acquired a new position in shares of Nokia during the fourth quarter worth about $35,000. Finally, Wexford Capital LP purchased a new stake in shares of Nokia during the third quarter worth approximately $29,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.