Nokia Corporation $NOK Stock Bought by Capstone Capital Management Ltd

Capstone Capital Management Ltd increased its stake in shares of Nokia Corporation (NYSE:NOK) by 50.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 173,357 shares of the technology company’s stock after purchasing an additional 57,990 shares during the quarter. Nokia makes up 0.7% of Capstone Capital Management Ltd’s holdings, making the stock its 29th biggest position. Capstone Capital Management Ltd’s holdings in Nokia were worth $1,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jackson Square Capital LLC acquired a new stake in shares of Nokia during the third quarter worth $2,392,000. SummitTX Capital L.P. increased its position in shares of Nokia by 219.4% in the first quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company’s stock valued at $1,974,000 after buying an additional 168,688 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Nokia during the first quarter worth about $9,634,000. Amundi purchased a new position in Nokia in the 1st quarter valued at $1,120,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in Nokia in the 3rd quarter worth approximately $1,359,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Stock Down 0.7%

NOK opened at $9.02 on Wednesday. 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 company has a market cap of $51.77 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 1.08 and a beta of 1.19. Nokia Corporation has a one year low of $5.45 and a one year high of $17.45. The business’s fifty day moving average is $10.23 and its two-hundred day moving average is $11.46.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. Analysts anticipate that Nokia Corporation will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOK has been the topic of a number of research analyst reports. Barclays restated a “sell” rating on shares of Nokia in a research report on Monday, June 29th. B. Riley Financial assumed coverage on shares of Nokia in a research report on Thursday, September 17th. They set a “buy” rating and a $15.00 price target on the stock. Danske upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nokia in a report on Tuesday, September 29th. Finally, Rosenblatt Securities started coverage on Nokia in a report on Tuesday, September 15th. They set a “buy” rating and a $15.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.57.

About Nokia

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.