Nokia Oyj (NYSE:NOK) Upgraded at StockNews.com

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a hold rating to a buy rating in a research note published on Tuesday morning.

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

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock opened at $5.13 on Tuesday. The company has a 50 day moving average of $5.07 and a 200-day moving average of $4.69. The company has a market cap of $27.94 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 1-year low of $3.36 and a 1-year high of $5.48.

Nokia Oyj (NYSE:NOK) last issued its earnings results 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, equities research analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOK. Farther Finance Advisors LLC grew its stake in shares of Nokia Oyj by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,651 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Nokia Oyj during the 4th quarter worth about $45,000. Merit Financial Group LLC acquired a new stake in shares of Nokia Oyj in the first quarter valued at about $54,000. D.A. Davidson & CO. bought a new position in shares of Nokia Oyj during the fourth quarter worth about $46,000. Finally, Wedmont Private Capital acquired a new position in shares of Nokia Oyj in the fourth quarter worth approximately $47,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.