Nokia Oyj (NYSE:NOK) Hits New 52-Week High – What’s Next?

Shares of Nokia Oyj (NYSE:NOK) reached a new 52-week high on Monday . The company traded as high as $5.35 and last traded at $5.37, with a volume of 77212 shares traded. The stock had previously closed at $5.33.

Analysts Set New Price Targets

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

Nokia Oyj Stock Performance

The business has a 50-day moving average of $4.84 and a two-hundred day moving average of $4.57. The company has a market cap of $29.58 billion, a P/E ratio of 21.70, a P/E/G ratio of 6.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

Nokia Oyj (NYSE:NOK) last issued 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%. On average, sell-side analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors have recently added to or reduced their stakes in NOK. Foundations Investment Advisors LLC acquired a new stake in Nokia Oyj in the fourth quarter worth about $45,000. D.A. Davidson & CO. acquired a new stake in Nokia Oyj in the fourth quarter worth about $46,000. PEAK6 Investments LLC acquired a new stake in Nokia Oyj in the third quarter worth about $45,000. Wedmont Private Capital acquired a new stake in Nokia Oyj in the fourth quarter worth about $47,000. Finally, Wealthstream Advisors Inc. acquired a new stake in Nokia Oyj in the fourth quarter worth about $49,000. 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.