Shares of Nokia Oyj (NYSE:NOK – Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $4.55 and last traded at $4.55, with a volume of 1263607 shares. The stock had previously closed at $4.34.
Wall Street Analyst Weigh In
NOK has been the topic of several research reports. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.54.
Read Our Latest Stock Report on NOK
Nokia Oyj Trading Up 7.1 %
Nokia Oyj (NYSE:NOK – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. As a group, equities research analysts anticipate that Nokia Oyj will post 0.36 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in NOK. Blue Trust Inc. lifted its position in Nokia Oyj by 227.5% in the 3rd quarter. Blue Trust Inc. now owns 48,062 shares of the technology company’s stock valued at $210,000 after acquiring an additional 33,386 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in Nokia Oyj by 190.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 44,900 shares of the technology company’s stock valued at $196,000 after acquiring an additional 29,448 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Nokia Oyj by 30.8% during the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock worth $59,000 after purchasing an additional 3,199 shares during the last quarter. Creative Planning lifted its holdings in Nokia Oyj by 21.1% during the third quarter. Creative Planning now owns 403,246 shares of the technology company’s stock worth $1,762,000 after acquiring an additional 70,180 shares during the period. Finally, First Affirmative Financial Network boosted its position in Nokia Oyj by 17.1% in the third quarter. First Affirmative Financial Network now owns 42,468 shares of the technology company’s stock worth $186,000 after purchasing an additional 6,205 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.
About Nokia Oyj
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.
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