Nokia (NYSE:NOK) Rating Lowered to Neutral at Arete Research

Nokia (NYSE:NOK) was downgraded by investment analysts at Arete Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat reports.

Several other research analysts also recently weighed in on the company. Citigroup reaffirmed a “sell” rating on shares of Nokia in a research note on Friday, January 23rd. Santander upgraded shares of Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Argus upgraded shares of Nokia to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. Finally, Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.01.

Nokia Price Performance

NYSE NOK traded up $0.10 during trading hours on Friday, reaching $8.24. The company’s stock had a trading volume of 50,747,686 shares, compared to its average volume of 43,394,484. The firm has a market capitalization of $47.29 billion, a price-to-earnings ratio of 63.41, a P/E/G ratio of 2.88 and a beta of 0.80. The company’s 50-day moving average is $7.09 and its two-hundred day moving average is $6.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. Nokia has a 1-year low of $4.00 and a 1-year high of $8.66.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NOK. Fifth Third Bancorp boosted its holdings in shares of Nokia by 248.7% during the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after purchasing an additional 2,721 shares during the last quarter. Wexford Capital LP purchased a new position in Nokia during the third quarter worth approximately $29,000. FNY Investment Advisers LLC boosted its stake in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after buying an additional 4,684 shares during the last quarter. Dorato Capital Management purchased a new stake in Nokia in the 4th quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nokia in the 3rd quarter worth $34,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia

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.