Nokia Oyj (NYSE:NOK) Stock Price Up 2.7%

Nokia Oyj (NYSE:NOK) shares rose 2.7% during mid-day trading on Thursday . The company traded as high as $3.43 and last traded at $3.42. Approximately 3,088,110 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 15,025,717 shares. The stock had previously closed at $3.33.

Analysts Set New Price Targets

Several equities analysts have weighed in on NOK shares. BNP Paribas started coverage on Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating on the stock. Barclays lowered Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. dropped their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.42.

Nokia Oyj Stock Performance

The business has a fifty day moving average of $3.54 and a 200 day moving average of $3.47. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. The company has a market cap of $19.38 billion, a P/E ratio of 27.67, a P/E/G ratio of 0.93 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the prior year, the company posted $0.16 earnings per share. On average, equities analysts predict that Nokia Oyj will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Artisan Partners Limited Partnership raised its stake in shares of Nokia Oyj by 5.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 106,769,682 shares of the technology company’s stock worth $365,152,000 after buying an additional 5,087,927 shares during the period. Pzena Investment Management LLC raised its stake in Nokia Oyj by 22.3% during the 4th quarter. Pzena Investment Management LLC now owns 52,313,442 shares of the technology company’s stock valued at $178,912,000 after purchasing an additional 9,522,186 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Nokia Oyj by 9.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock valued at $223,416,000 after purchasing an additional 3,569,621 shares during the period. Renaissance Technologies LLC raised its stake in Nokia Oyj by 35.1% during the 1st quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock valued at $140,358,000 after purchasing an additional 7,419,900 shares during the period. Finally, Millennium Management LLC increased its stake in Nokia Oyj by 55.0% in the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock worth $128,727,000 after acquiring an additional 9,842,934 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.