Nokia (NYSE:NOK) Stock Price Down 7.2% – Here’s Why

Nokia Corporation (NYSE:NOK)’s share price fell 7.2% during trading on Friday . The stock traded as low as $12.78 and last traded at $12.9760. 142,224,419 shares traded hands during trading, an increase of 78% from the average daily volume of 80,115,805 shares. The stock had previously closed at $13.98.

Nokia News Roundup

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Nokia announced a partnership with Google Cloud to integrate Gemini AI into its network software, aiming to improve automation for telecom operators, cloud providers, and data center customers. This supports the case that Nokia’s software and networking business could benefit from AI demand. Nokia (NYSE:NOK) Taps Google Cloud Gemini To Recast Its Network Software Future
• Positive Sentiment: Nokia said its Defense unit will join a Finnish Border Guard consortium to develop counter-drone capabilities, highlighting a new public-safety and critical-infrastructure use case for its connectivity products. Nokia to provide intelligent connectivity for Finnish Border Guard counter-drone initiative nationwide
• Positive Sentiment: Additional coverage says Nokia is expanding ties with AWS, Google Cloud, and Databricks to build AI-driven autonomous telecom networks, which could strengthen its position in the next generation of network infrastructure. Nokia (HLSE:NOKIA) Expands AWS Google Cloud And Databricks Ties For AI Networks
• Neutral Sentiment: One article framed Nokia as a possible comeback story alongside other former tech leaders, but this was mostly commentary rather than a new business catalyst. BlackBerry, IBM, and Nokia Are All Trying to Come Back. History Says Only One Survives
• Neutral Sentiment: Other reports about Nokia becoming an AI infrastructure play or being mentioned by a social-media “stock tracker” after Trump praised U.S. investment plans may have added sentiment support, but they do not appear to change fundamentals on their own. Nancy Pelosi Stock Tracker Flags Eli Lilly, Nokia After Trump Praise: ‘Keep An Eye On These Two’
• Neutral Sentiment: A separate report said Nokia is seeking a product lead for its data center switching strategy, which signals ongoing investment but is not likely to move the stock immediately. Nokia seeks product lead to spearhead data center switching strategy

Wall Street Analyst Weigh In

NOK has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Nordea Equity Research upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Barclays reissued an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Finally, Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a report on Monday, April 13th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.57.

Nokia Stock Down 7.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The stock’s fifty day simple moving average is $13.54 and its 200-day simple moving average is $9.53. The stock has a market cap of $74.51 billion, a P/E ratio of 81.11, a PEG ratio of 2.68 and a beta of 1.15.

Nokia (NYSE:NOK) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. The company 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%. On average, research analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

Large investors have recently added to or reduced their stakes in the stock. Analog Century Management LP bought a new position in shares of Nokia during the fourth quarter worth about $104,244,000. QRG Capital Management Inc. lifted its position in Nokia by 34.6% in the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock valued at $3,493,000 after purchasing an additional 138,935 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Nokia during the 3rd quarter valued at about $4,595,000. Polar Asset Management Partners Inc. bought a new position in Nokia in the 3rd quarter worth about $11,910,000. Finally, Pzena Investment Management LLC grew its position in Nokia by 14.5% in the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after purchasing an additional 11,612,590 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

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.