Nokia Oyj (NYSE:NOK – Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 19,570,000 shares, a decline of 25.7% from the March 31st total of 26,330,000 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 15,650,000 shares, the days-to-cover ratio is currently 1.3 days.
Hedge Funds Weigh In On Nokia Oyj
Several large investors have recently made changes to their positions in NOK. Banque Cantonale Vaudoise raised its position in Nokia Oyj by 48.2% in the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after purchasing an additional 3,000 shares during the period. Capital Management Associates Inc acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at $34,000. Tieton Capital Management LLC purchased a new stake in shares of Nokia Oyj in the 4th quarter valued at $34,000. Checchi Capital Advisers LLC acquired a new position in Nokia Oyj during the 1st quarter worth about $35,000. Finally, Peapack Gladstone Financial Corp purchased a new position in Nokia Oyj during the 4th quarter valued at about $35,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.
Nokia Oyj Price Performance
NYSE:NOK opened at $3.65 on Friday. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.36. The stock’s fifty day moving average is $3.55 and its two-hundred day moving average is $3.47. The company has a market capitalization of $20.56 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.14 and a beta of 1.09. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 0.15.
Wall Street Analysts Forecast Growth
NOK has been the subject of a number of recent research reports. StockNews.com upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, April 19th. BNP Paribas initiated coverage on Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating for the company. Barclays lowered Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.42.
View Our Latest Report on Nokia Oyj
Nokia Oyj Company Profile
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.
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