Nokia (NYSE:NOK) Trading Down 4.9% – Should You Sell?

Nokia Corporation (NYSE:NOK) shares traded down 4.9% on Tuesday . The stock traded as low as $13.22 and last traded at $13.72. 84,112,899 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 79,485,227 shares. The stock had previously closed at $14.43.

Trending Headlines about Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia announced a broader partnership with Google Cloud to integrate Gemini AI into its network software, positioning its products for telecom operators, cloud providers, and data center customers. Nokia (NYSE:NOK) Taps Google Cloud Gemini To Recast Its Network Software Future
• Positive Sentiment: The company also expanded collaborations with AWS and Databricks to build autonomous, AI-driven networks, with proof-of-concept work suggesting Nokia is gaining traction as an AI infrastructure play. Nokia (HLSE:NOKIA) Expands AWS Google Cloud And Databricks Ties For AI Networks
• Positive Sentiment: Nokia said its Defense unit joined a Finnish-Nordic consortium to provide intelligent connectivity for a nationwide counter-drone initiative for the Finnish Border Guard, adding another potential growth channel and highlighting demand for mission-critical connectivity solutions. Nokia to provide intelligent connectivity for Finnish Border Guard counter-drone initiative nationwide
• Neutral Sentiment: Reports also noted Nokia is seeking a product lead to spearhead its data center switching strategy, indicating continued investment in a market aligned with AI and cloud infrastructure demand. Nokia seeks product lead to spearhead data center switching strategy
• Neutral Sentiment: Media coverage continues to frame Nokia as an emerging AI-infrastructure beneficiary, but these pieces are mostly narrative-driven and do not yet show immediate financial results from the new partnerships. Nokia acquired Infinera and is now quietly becoming an AI infrastructure play. Wall Street hasn’t caught on yet

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOK. JPMorgan Chase & Co. increased their price target on shares of Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Barclays reiterated an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Nokia Stock Up 0.8%

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 stock’s fifty day simple moving average is $13.47 and its 200-day simple moving average is $9.47. The stock has a market cap of $79.96 billion, a P/E ratio of 87.04, a PEG ratio of 2.66 and a beta of 1.15.

Nokia (NYSE:NOK) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The company had revenue of $5.21 billion during the quarter. On average, research analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

A number of hedge funds have recently made changes to their positions in NOK. Amundi bought a new position in Nokia in the 1st quarter worth approximately $776,000. AQR Capital Management LLC boosted its position in Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock worth $985,000 after acquiring an additional 40,276 shares during the period. Millennium Management LLC boosted its position in Nokia by 6,539.2% during the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock worth $14,975,000 after acquiring an additional 2,798,758 shares during the period. NewEdge Advisors LLC grew its stake in shares of Nokia by 6,204.9% in the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock worth $319,000 after purchasing an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after purchasing an additional 1,002,033 shares during the period. Institutional investors 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.