Nokia (NYSE:NOK) Shares Down 2.5% – Should You Sell?

Nokia Corporation (NYSE:NOK) traded down 2.5% during trading on Wednesday . The company traded as low as $10.09 and last traded at $10.13. 79,354,670 shares traded hands during trading, a decline of 3% from the average daily volume of 82,037,648 shares. The stock had previously closed at $10.39.

Wall Street Analysts Forecast Growth

NOK has been the topic of several research reports. Northland Securities set a $20.00 price target on shares of Nokia in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on shares of Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Barclays reaffirmed an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Nokia presently has a consensus rating of “Moderate Buy” and an average target price of $12.57.

Nokia Stock Up 0.6%

The stock has a market cap of $58.63 billion, a P/E ratio of 72.93, a P/E/G ratio of 1.20 and a beta of 1.19. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $11.35 and a two-hundred day simple moving average of $10.71.

Nokia (NYSE:NOK) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion for 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 business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. On average, equities analysts forecast that Nokia Corporation will post 0.39 EPS for the current year.

Institutional Trading of Nokia

Large investors have recently modified their holdings of the business. Rehmann Capital Advisory Group bought a new position in Nokia during the 2nd quarter valued at approximately $201,000. Wedbush Securities Inc. bought a new stake in shares of Nokia in the 2nd quarter worth approximately $292,000. Valeo Financial Advisors LLC increased its stake in shares of Nokia by 14.9% during the second quarter. Valeo Financial Advisors LLC now owns 21,184 shares of the technology company’s stock valued at $281,000 after buying an additional 2,748 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Nokia during the second quarter valued at approximately $436,000. Finally, Foster Group Inc. purchased a new stake in Nokia in the second quarter worth $138,000. 5.28% of the stock is owned by institutional investors.

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.