Nokia (NYSE:NOK) Stock Price Up 5.6% – Still a Buy?

Shares of Nokia Corporation (NYSE:NOK) traded up 5.6% on Thursday . The stock traded as high as $14.17 and last traded at $14.1520. 92,647,945 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 77,257,438 shares. The stock had previously closed at $13.40.

Analyst Ratings Changes

Several analysts have issued reports on NOK shares. The Goldman Sachs Group raised Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Northland Securities set a $20.00 target price on Nokia in a research note on Wednesday, June 3rd. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target for the company in a research note on Monday, April 13th. Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Danske lowered Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Nokia presently has an average rating of “Moderate Buy” and a consensus price target of $10.71.

Nokia Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The company has a market cap of $81.26 billion, a PE ratio of 88.46, a PEG ratio of 2.69 and a beta of 1.15. The business has a 50-day moving average of $12.47 and a 200 day moving average of $8.91.

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

Institutional Trading of Nokia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Analog Century Management LP purchased a new stake in Nokia in the 4th quarter worth $104,244,000. Arrowstreet Capital Limited Partnership lifted its position in Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after buying an additional 14,482,665 shares during the last quarter. ARGA Investment Management LP boosted its stake in shares of Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after purchasing an additional 12,734,021 shares during the period. Pzena Investment Management LLC grew its stake in shares of Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after buying an additional 11,667,677 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Nokia by 171.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares during the period. Institutional investors own 5.28% of the company’s stock.

Nokia Company Profile

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.