Nokia (NYSE:NOK) Stock Price Up 7.1% – What’s Next?

Nokia Corporation (NYSE:NOK) rose 7.1% on Monday . The company traded as high as $14.56 and last traded at $14.45. Approximately 115,906,785 shares were traded during mid-day trading, an increase of 46% from the average session volume of 79,467,734 shares. The stock had previously closed at $13.49.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus raised Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Northland Securities set a $20.00 price objective on shares of Nokia in a research report on Wednesday, June 3rd. Barclays reiterated an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Finally, Danske cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Nokia has a consensus rating of “Moderate Buy” and a consensus price target of $12.57.

Nokia Stock Performance

The company has a fifty day moving average price of $13.22 and a two-hundred day moving average price of $9.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The company has a market capitalization of $82.98 billion, a P/E ratio of 90.32, a PEG ratio of 2.62 and a beta of 1.15.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. The company had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. Equities analysts forecast that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia

Institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC grew its position in shares of Nokia by 14.5% during the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Nokia by 9.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after purchasing an additional 3,896,363 shares during the period. ARGA Investment Management LP raised its position in shares of Nokia by 166.4% in the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock valued at $163,921,000 after purchasing an additional 12,734,021 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of Nokia by 171.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after buying an additional 11,035,002 shares in the last quarter. Finally, Analog Century Management LP bought a new position in Nokia in the 4th quarter worth approximately $104,244,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.