Nokia Oyj (NYSE:NOK) Shares Gap Up to $3.30

Nokia Oyj (NYSE:NOK)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.30, but opened at $3.37. Nokia Oyj shares last traded at $3.37, with a volume of 5,826,819 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOK shares. The Goldman Sachs Group cut Nokia Oyj from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $5.10 to $3.40 in a research note on Monday, December 18th. Barclays cut Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. BNP Paribas started coverage on Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Trading Up 1.5 %

The company has a current ratio of 1.66, a quick ratio of 1.41 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $18.87 billion, a P/E ratio of 28.00, a P/E/G ratio of 0.93 and a beta of 1.09. The firm has a 50-day moving average of $3.55 and a two-hundred day moving average of $3.48.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. During the same quarter in the prior year, the business posted $0.16 earnings per share. On average, analysts anticipate that Nokia Oyj will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

Large investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its stake in shares of Nokia Oyj by 48.2% in the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after buying an additional 3,000 shares during the period. Capital Management Associates Inc acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at about $34,000. Tieton Capital Management LLC acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at about $34,000. Advisors Asset Management Inc. acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at about $34,000. Finally, Peapack Gladstone Financial Corp acquired a new stake in Nokia Oyj during the fourth quarter worth approximately $35,000. 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.