Nokia (NYSE:NOK) Shares Down 4% – Should You Sell?

Nokia Corporation (NYSE:NOK) shares were down 4% during mid-day trading on Tuesday . The stock traded as low as $8.60 and last traded at $8.91. Approximately 107,779,766 shares traded hands during trading, an increase of 31% from the average session volume of 82,053,992 shares. The stock had previously closed at $9.28.

Analysts Set New Price Targets

Several research analysts recently commented on the company. The Goldman Sachs Group raised Nokia from a “sell” rating to a “neutral” rating in a research report on Monday, March 30th. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research report on Wednesday, April 29th. Arete Research raised Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.57.

Nokia Price Performance

The business has a fifty day moving average of $13.28 and a two-hundred day moving average of $10.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50. The firm has a market capitalization of $51.16 billion, a price-to-earnings ratio of 63.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share. As a group, research analysts predict that Nokia Corporation will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia

Several hedge funds have recently bought and sold shares of the stock. Valeo Financial Advisors LLC grew its position in shares of Nokia by 14.9% in the second quarter. Valeo Financial Advisors LLC now owns 21,184 shares of the technology company’s stock valued at $281,000 after purchasing an additional 2,748 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Nokia in the 2nd quarter valued at $436,000. Foster Group Inc. bought a new position in Nokia during the 2nd quarter worth $138,000. GAMMA Investing LLC lifted its holdings in shares of Nokia by 16.6% during the second quarter. GAMMA Investing LLC now owns 26,390 shares of the technology company’s stock worth $350,000 after buying an additional 3,751 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Nokia in the second quarter valued at about $720,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.