Nokia Corporation (NYSE:NOK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Nokia Corporation (NYSE:NOK) have received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.0140.

NOK has been the topic of several recent research reports. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Citigroup restated a “sell” rating on shares of Nokia in a research report on Friday, January 23rd. Argus upgraded Nokia to a “hold” rating in a report on Wednesday, February 11th. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Finally, Danske lowered Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday.

Nokia Stock Up 2.9%

Shares of NOK opened at $7.72 on Monday. Nokia has a 1 year low of $4.00 and a 1 year high of $8.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. The stock has a 50 day simple moving average of $6.83 and a two-hundred day simple moving average of $5.97. The firm has a market cap of $44.30 billion, a P/E ratio of 59.35, a P/E/G ratio of 2.74 and a beta of 0.81.

Institutional Investors Weigh In On Nokia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Analog Century Management LP purchased a new position in shares of Nokia in the fourth quarter valued at about $104,244,000. Arrowstreet Capital Limited Partnership increased its holdings in Nokia by 50.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after purchasing an additional 14,482,665 shares during the period. Thrivent Financial for Lutherans raised its position in Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after purchasing an additional 12,619,099 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in Nokia by 17.0% in the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after buying an additional 11,667,677 shares during the period. Finally, Alyeska Investment Group L.P. grew its position 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 worth $113,161,000 after buying an additional 11,035,002 shares during the last quarter. 5.28% of the stock is currently 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.