Nokia (NYSE:NOK) Sees Large Volume Increase – What’s Next?
by Tristan Rich · The Markets DailyNokia Corporation (NYSE:NOK – Get Free Report) shares saw an uptick in trading volume on Thursday . 36,245,474 shares were traded during trading, a decline of 25% from the previous session’s volume of 48,556,191 shares.The stock last traded at $9.4770 and had previously closed at $9.44.
Analysts Set New Price Targets
Several brokerages have recently issued reports on NOK. Kepler Capital Markets upgraded Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Morgan Stanley began coverage on Nokia in a report on Monday, February 9th. They set an “overweight” rating and a $8.00 price target for the company. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Danske lowered Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Citigroup reiterated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.01.
Get Our Latest Stock Report on NOK
Nokia Price Performance
The stock has a 50 day moving average of $7.79 and a two-hundred day moving average of $6.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The firm has a market capitalization of $54.81 billion, a P/E ratio of 73.43, a P/E/G ratio of 3.06 and a beta of 0.77.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC raised its stake in shares of Nokia by 14.5% in the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Nokia by 9.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after acquiring an additional 3,896,363 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after acquiring an additional 11,035,002 shares in the last quarter. Folketrygdfondet raised its stake in shares of Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after acquiring an additional 6,950,487 shares in the last quarter. Finally, Analog Century Management LP bought a new position in shares of Nokia in the 4th quarter valued at approximately $104,244,000. 5.28% of the stock is owned by institutional investors.
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.