South Shore Capital Advisors Acquires New Holdings in Nokia Corporation $NOK

South Shore Capital Advisors acquired a new stake in shares of Nokia Corporation (NYSE:NOK) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 113,711 shares of the technology company’s stock, valued at approximately $736,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOK. Amundi acquired a new position in Nokia during the first quarter valued at approximately $776,000. AQR Capital Management LLC grew its holdings in Nokia by 27.5% during the first quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock valued at $985,000 after purchasing an additional 40,276 shares during the last quarter. Millennium Management LLC grew its holdings in Nokia by 6,539.2% during the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after purchasing an additional 2,798,758 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Nokia by 6,204.9% during the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock valued at $319,000 after purchasing an additional 59,505 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in 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 last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NOK. The Goldman Sachs Group upgraded Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Danske downgraded Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Arete Research downgraded Nokia from a “buy” rating to a “neutral” rating in a report on Friday, March 13th. Morgan Stanley assumed coverage on shares of Nokia in a research note on Monday, February 9th. They issued an “overweight” rating and a $8.00 price objective on the stock. Finally, Citigroup restated a “sell” rating on shares of Nokia in a research note on Friday, January 23rd. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nokia currently has a consensus rating of “Hold” and an average price target of $7.01.

Nokia Trading Up 0.5%

Shares of Nokia stock opened at $8.87 on Tuesday. The company’s fifty day simple moving average is $7.70 and its 200-day simple moving average is $6.69. The company has a market cap of $50.90 billion, a price-to-earnings ratio of 68.20, a PEG ratio of 3.06 and a beta of 0.77. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $9.29.

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.