Nokia Oyj (NYSE:NOK) Shares Gap Down – What’s Next?

Nokia Oyj (NYSE:NOK)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.25, but opened at $4.11. Nokia Oyj shares last traded at $4.09, with a volume of 2,386,983 shares.

Analysts Set New Price Targets

NOK has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Northland Securities restated an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Finally, Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nokia Oyj presently has an average rating of “Hold” and a consensus target price of $4.56.

Nokia Oyj Stock Performance

The company’s 50-day simple moving average is $4.47 and its 200 day simple moving average is $4.11. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The stock has a market cap of $22.79 billion, a P/E ratio of 53.00, a PEG ratio of 5.37 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. As a group, sell-side analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. GAMMA Investing LLC raised its stake in shares of Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Nokia Oyj in the first quarter worth about $35,000. Pinnacle Associates Ltd. purchased a new stake in shares of Nokia Oyj during the third quarter valued at approximately $44,000. JGP Wealth Management LLC purchased a new stake in shares of Nokia Oyj during the third quarter valued at approximately $45,000. Finally, Simplicity Wealth LLC bought a new position in Nokia Oyj during the second quarter valued at approximately $39,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj 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.