Nokia Oyj (NYSE:NOK) Short Interest Down 25.7% in April

Nokia Oyj (NYSE:NOK) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 19,570,000 shares, a decrease of 25.7% from the March 31st total of 26,330,000 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 15,650,000 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NOK. Barclays downgraded shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. BNP Paribas started coverage on shares of Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating on the stock. StockNews.com upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. reduced their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj has an average rating of “Hold” and a consensus target price of $4.42.

Institutional Trading of Nokia Oyj

A number of hedge funds have recently made changes to their positions in the company. Assetmark Inc. grew its holdings in Nokia Oyj by 8.6% during the 4th quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock valued at $120,000 after purchasing an additional 2,788 shares in the last quarter. First Affirmative Financial Network increased its position in shares of Nokia Oyj by 10.3% during the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after acquiring an additional 2,932 shares during the last quarter. Banque Cantonale Vaudoise lifted 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 worth $33,000 after acquiring an additional 3,000 shares in the last quarter. Gallacher Capital Management LLC grew its stake in Nokia Oyj by 4.5% during the 4th quarter. Gallacher Capital Management LLC now owns 71,221 shares of the technology company’s stock valued at $244,000 after purchasing an additional 3,069 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its holdings in Nokia Oyj by 5.5% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 59,924 shares of the technology company’s stock worth $205,000 after purchasing an additional 3,129 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Up 0.3 %

Shares of NYSE NOK opened at $3.65 on Friday. The stock has a fifty day moving average price of $3.55 and a 200 day moving average price of $3.47. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.36. The company has a market cap of $20.56 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.14 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. During the same quarter last year, the business posted $0.16 EPS. Research analysts anticipate that Nokia Oyj will post 0.38 EPS for the current fiscal year.

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.