Nokia Oyj (NYSE:NOK) Short Interest Update

Nokia Oyj (NYSE:NOK) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 48,180,000 shares, a decline of 35.4% from the February 28th total of 74,630,000 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 19,570,000 shares, the short-interest ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. Craig Hallum upped their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.85.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after acquiring an additional 27,755,460 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Nokia Oyj by 179.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock valued at $128,728,000 after purchasing an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Nokia Oyj during the fourth quarter worth about $53,481,000. Freestone Grove Partners LP acquired a new position in Nokia Oyj during the fourth quarter worth approximately $33,348,000. Finally, Woodline Partners LP raised its stake in Nokia Oyj by 125.4% in the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock valued at $53,162,000 after buying an additional 6,677,017 shares during the period. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Stock Up 1.2 %

NOK stock traded up $0.07 during midday trading on Monday, hitting $5.28. The company’s stock had a trading volume of 26,801,228 shares, compared to its average volume of 17,190,990. The company’s fifty day moving average price is $4.97 and its 200 day moving average price is $4.63. 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 twelve month low of $3.29 and a twelve month high of $5.48. The stock has a market capitalization of $28.76 billion, a P/E ratio of 21.10, a PEG ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

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.