Nokia Oyj (NYSE:NOK) Shares Gap Down – Should You Sell?

Nokia Oyj (NYSE:NOK)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $4.61, but opened at $4.47. Nokia Oyj shares last traded at $4.45, with a volume of 6,300,376 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Craig Hallum lifted their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a research report on Thursday. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.86.

Nokia Oyj Stock Up 1.5 %

The stock has a fifty day moving average price of $4.41 and a 200-day moving average price of $4.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The firm has a market cap of $24.56 billion, a PE ratio of 56.31, a PEG ratio of 5.61 and a beta of 1.06.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. Research analysts expect that Nokia Oyj will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in Nokia Oyj in the third quarter valued at about $44,000. Alternative Investment Advisors LLC. acquired a new stake in Nokia Oyj during the second quarter valued at approximately $45,000. JGP Wealth Management LLC acquired a new position in shares of Nokia Oyj in the 3rd quarter worth approximately $45,000. Finally, PEAK6 Investments LLC bought a new stake in shares of Nokia Oyj in the 3rd quarter valued at approximately $45,000. 5.28% of the stock is owned by institutional investors and hedge funds.

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.