Nokia Oyj (NOK) Short Interest Up 26.4% in April

Nokia Oyj (NYSE:NOK) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 56,180,465 shares, a growth of 26.4% from the April 15th total of 44,453,559 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 26,670,383 shares, the short-interest ratio is currently 2.1 days.

Shares of NOK stock opened at $5.12 on Monday. The company has a market cap of $28.85 billion, a P/E ratio of 18.96 and a beta of 0.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.31. Nokia Oyj has a 52-week low of $4.71 and a 52-week high of $6.65.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Nokia Oyj had a negative net margin of 2.65% and a positive return on equity of 6.97%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. Sell-side analysts anticipate that Nokia Oyj will post 0.24 earnings per share for the current fiscal year.

Several analysts have recently weighed in on NOK shares. TheStreet raised shares of Nokia Oyj from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Nordea Equity Research lowered shares of Nokia Oyj from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Zacks Investment Research raised shares of Nokia Oyj from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $5.72 price objective on the stock. in a report on Monday, April 15th. Finally, Canaccord Genuity reissued a “buy” rating and set a $7.00 price objective on shares of Nokia Oyj in a report on Friday, April 26th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.83.

A number of hedge funds have recently modified their holdings of the stock. Creative Planning grew its holdings in Nokia Oyj by 2.5% in the fourth quarter. Creative Planning now owns 79,848 shares of the technology company’s stock worth $465,000 after purchasing an additional 1,917 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Nokia Oyj by 7.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 32,534 shares of the technology company’s stock worth $186,000 after purchasing an additional 2,170 shares during the last quarter. Keybank National Association OH grew its holdings in Nokia Oyj by 5.8% in the fourth quarter. Keybank National Association OH now owns 42,333 shares of the technology company’s stock worth $246,000 after purchasing an additional 2,326 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Nokia Oyj by 6.0% in the first quarter. Quadrant Capital Group LLC now owns 42,560 shares of the technology company’s stock worth $234,000 after purchasing an additional 2,410 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Nokia Oyj by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 140,993 shares of the technology company’s stock worth $806,000 after purchasing an additional 2,429 shares during the last quarter. 7.84% of the stock is currently owned by institutional investors.

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Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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