Nokia Oyj (NYSE:NOK) Downgraded by StockNews.com to “Buy”

Nokia Oyj (NYSE:NOK) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Several other brokerages have also commented on NOK. Northland Securities reissued an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a research report on Thursday, January 16th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Finally, Craig Hallum increased their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.86.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock traded up $0.04 during trading hours on Monday, reaching $4.64. The company had a trading volume of 20,336,617 shares, compared to its average volume of 19,284,014. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. Nokia Oyj has a one year low of $3.29 and a one year high of $4.95. The firm has a market cap of $25.27 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 5.81 and a beta of 1.06. The business has a fifty day simple moving average of $4.44 and a 200 day simple moving average of $4.33.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. On average, analysts anticipate that Nokia Oyj will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in Nokia Oyj during the 3rd quarter valued at $44,000. JGP Wealth Management LLC bought a new stake in Nokia Oyj in the 3rd quarter worth $45,000. PEAK6 Investments LLC bought a new position in shares of Nokia Oyj during the third quarter valued at about $45,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Nokia Oyj during the fourth quarter worth about $45,000. 5.28% of the stock is currently owned by 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.