Nokia Oyj (NYSE:NOK) Reaches New 12-Month High – Should You Buy?

Shares of Nokia Oyj (NYSE:NOK) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.95 and last traded at $4.93, with a volume of 7827258 shares. The stock had previously closed at $4.90.

Wall Street Analyst Weigh In

NOK has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum upped their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a report on Thursday, January 16th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.86.

Nokia Oyj Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The company has a market cap of $27.18 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 6.17 and a beta of 1.06. The stock has a 50 day moving average price of $4.53 and a two-hundred day moving average price of $4.38.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors have recently modified their holdings of NOK. FMR LLC lifted its stake in Nokia Oyj by 1,012.3% in the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after acquiring an additional 27,755,460 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Nokia Oyj by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after buying an additional 18,660,482 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Nokia Oyj by 10.0% during the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock worth $396,735,000 after buying an additional 8,261,407 shares during the last quarter. Talos Asset Management LP bought a new position in shares of Nokia Oyj in the 4th quarter valued at about $9,147,000. Finally, Sei Investments Co. increased its position in shares of Nokia Oyj by 79.5% in the fourth quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company’s stock valued at $19,656,000 after acquiring an additional 1,965,187 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

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.