Nokia Oyj (NYSE:NOK) Upgraded by StockNews.com to “Buy” Rating

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

NOK has been the topic of several other research reports. Craig Hallum upped their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. 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 report on Friday, February 21st. Finally, The Goldman Sachs Group lowered 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, January 16th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Nokia Oyj presently has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Up 3.3 %

Nokia Oyj stock opened at $5.15 on Tuesday. The firm has a market cap of $28.05 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 6.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. Nokia Oyj has a 52-week low of $3.30 and a 52-week high of $5.48. The firm has a 50 day moving average price of $5.06 and a two-hundred day moving average price of $4.69.

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

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in Nokia Oyj by 62.3% in the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock worth $219,292,000 after purchasing an additional 19,004,399 shares in the last quarter. Slate Path Capital LP grew its holdings in shares of Nokia Oyj by 15.6% in the fourth quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company’s stock valued at $134,845,000 after acquiring an additional 4,113,884 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Nokia Oyj by 179.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock valued at $128,728,000 after acquiring an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Nokia Oyj during the fourth quarter worth $53,481,000. Finally, Woodline Partners LP grew its stake in Nokia Oyj by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock valued at $53,162,000 after purchasing an additional 6,677,017 shares during the period. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.