Traders Purchase Large Volume of Nokia Oyj Call Options (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the recipient of unusually large options trading on Thursday. Traders purchased 30,735 call options on the company. This represents an increase of 211% compared to the average volume of 9,878 call options.

Hedge Funds Weigh In On Nokia Oyj

Several large investors have recently bought and sold shares of NOK. FMR LLC boosted its holdings in Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Nokia Oyj by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after buying an additional 18,660,482 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Nokia Oyj in the 4th quarter worth approximately $53,481,000. Pzena Investment Management LLC grew its holdings in shares of Nokia Oyj by 10.0% in the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after acquiring an additional 8,261,407 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at approximately $33,348,000. 5.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Nokia Oyj Stock Down 0.1 %

Shares of NYSE NOK traded down $0.01 during mid-day trading on Thursday, reaching $5.17. 27,605,829 shares of the company’s stock traded hands, compared to its average volume of 21,386,861. 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 1-year low of $3.29 and a 1-year high of $5.23. The stock has a market cap of $28.16 billion, a P/E ratio of 20.66, a PEG ratio of 6.43 and a beta of 1.11. The business has a 50-day simple moving average of $4.70 and a 200 day simple moving average of $4.50.

Nokia Oyj (NYSE:NOK) last released its quarterly 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%. On average, analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal 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.