Nokia (NYSE:NOK) Shares Down 5.7% – Should You Sell?

Nokia Corporation (NYSE:NOK) shares were down 5.7% during trading on Tuesday . The company traded as low as $13.75 and last traded at $13.98. Approximately 122,856,751 shares changed hands during mid-day trading, an increase of 57% from the average session volume of 78,449,297 shares. The stock had previously closed at $14.82.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NOK shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Barclays restated an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Northland Securities set a $20.00 price target on shares of Nokia in a research report on Wednesday, June 3rd. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Nokia currently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Nokia Trading Down 1.8%

The stock has a fifty day simple moving average of $13.04 and a 200 day simple moving average of $9.20. The firm has a market capitalization of $77.95 billion, a P/E ratio of 84.97, a PEG ratio of 2.72 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. The firm had revenue of $5.21 billion during the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. As a group, research analysts forecast that Nokia Corporation will post 0.4 EPS for the current year.

Institutional Investors Weigh In On Nokia

A number of institutional investors have recently added to or reduced their stakes in the stock. Analog Century Management LP purchased a new position in shares of Nokia in the fourth quarter worth $104,244,000. Arrowstreet Capital Limited Partnership grew its stake in Nokia by 50.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. ARGA Investment Management LP increased its holdings in Nokia by 166.4% in the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock valued at $163,921,000 after acquiring an additional 12,734,021 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Nokia by 17.0% in the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after purchasing an additional 11,667,677 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other 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.