Nokia (NYSE:NOK) Shares Up 8.7% – Here’s What Happened

Shares of Nokia Corporation (NYSE:NOK) rose 8.7% during mid-day trading on Thursday . The company traded as high as $12.91 and last traded at $12.9850. 40,696,038 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 79,167,805 shares. The stock had previously closed at $11.95.

Key Headlines Impacting Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia announced expanded work with NestAI to build AI-enabled defense capabilities using resilient connectivity, deployable 5G, and sensing technologies. The deal highlights Nokia’s push into higher-growth defense and AI network opportunities, which could improve investor sentiment. Nokia and NestAI build capability for AI-enabled defense operations with resilient connectivity in denied environments
• Neutral Sentiment: Reuters noted broader market chatter around “meme” and theme-driven trading, but this was not specific to Nokia and is unlikely to be a direct driver of the stock. Meme ETF rally leaves many underwater
• Neutral Sentiment: Nokia also drew valuation-focused coverage after a sharp pullback, with one piece arguing the stock may be fairly valued while another said it could still be undervalued on AI network optimism. That mixed assessment suggests the market is still debating how much upside is already priced in. Is Nokia Oyj (HLSE:NOKIA) Fairly Valued As Leadership Changes Meet A Sharp Pullback? Nokia (HLSE:NOKIA) Stock May Be 12% Undervalued On Fresh AI Network News
• Negative Sentiment: Nokia disclosed that FMR LLC’s indirect holdings fell below 5%, which may signal reduced institutional ownership and can be viewed as a modest headwind for sentiment. Notification under Chapter 9, Section 10 of the Finnish Securities Market Act: holdings of FMR LLC in Nokia Corporation decreased below 5%

Analyst Ratings Changes

Several equities analysts have recently weighed in on NOK shares. Wall Street Zen cut shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a report on Friday, May 15th. Nordea Equity Research upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Danske upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Finally, The Goldman Sachs Group raised Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.57.

Nokia Trading Down 3.5%

The stock has a market capitalization of $71.46 billion, a PE ratio of 77.79, a PEG ratio of 1.84 and a beta of 1.17. The stock’s 50 day moving average price is $13.96 and its 200-day moving average price is $9.99. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last released its earnings results 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%. On average, sell-side analysts expect that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia

Several large investors have recently made changes to their positions in the company. Analog Century Management LP purchased a new stake in shares of Nokia during the 4th quarter worth approximately $104,244,000. Arrowstreet Capital Limited Partnership lifted its position in Nokia by 50.0% during the third 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 last quarter. ARGA Investment Management LP grew its stake in shares of Nokia by 166.4% in the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after buying an additional 12,734,021 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Nokia by 14.5% in 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 last quarter. Finally, Alyeska Investment Group L.P. grew its position in Nokia by 171.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after acquiring an additional 11,035,002 shares in the last quarter. 5.28% of the stock is owned by 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.