Quantbot Technologies LP Takes Position in Nokia Oyj (NYSE:NOK)

Quantbot Technologies LP purchased a new stake in Nokia Oyj (NYSE:NOK) during the fourth quarter, Holdings Channel.com reports. The firm purchased 477,713 shares of the technology company’s stock, valued at approximately $2,116,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Summit Global Investments acquired a new stake in shares of Nokia Oyj in the 4th quarter worth $510,000. Talos Asset Management LP acquired a new stake in shares of Nokia Oyj in the 4th quarter worth $9,147,000. PDS Planning Inc boosted its position in shares of Nokia Oyj by 10.4% in the 4th quarter. PDS Planning Inc now owns 28,304 shares of the technology company’s stock worth $125,000 after purchasing an additional 2,665 shares in the last quarter. Signaturefd LLC boosted its position in shares of Nokia Oyj by 6.0% in the 4th quarter. Signaturefd LLC now owns 119,344 shares of the technology company’s stock worth $529,000 after purchasing an additional 6,781 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Nokia Oyj by 41.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,366 shares of the technology company’s stock worth $99,000 after purchasing an additional 6,584 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. Craig Hallum raised their price objective on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Performance

Shares of NOK opened at $5.33 on Monday. The stock has a 50-day moving average of $4.88 and a two-hundred day moving average of $4.59. Nokia Oyj has a one year low of $3.29 and a one year high of $5.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The stock has a market cap of $29.03 billion, a P/E ratio of 21.30, a P/E/G ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, research analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj 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.