Nokia Oyj (NYSE:NOK) Sees Unusually-High Trading Volume – Here’s What Happened

Nokia Oyj (NYSE:NOK) shares saw unusually-high trading volume on Wednesday . Approximately 16,017,831 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 12,837,626 shares.The stock last traded at $4.61 and had previously closed at $4.51.

Analyst Upgrades and Downgrades

NOK has been the subject of several analyst reports. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. Northland Securities reiterated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, 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 report on Monday, January 6th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.86.

Nokia Oyj Stock Performance

The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 56.31, a P/E/G ratio of 5.61 and a beta of 1.06. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $4.41 and a 200 day simple moving average of $4.28.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. As a group, analysts anticipate that Nokia Oyj will post 0.35 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 the company. Pzena Investment Management LLC increased its stake in Nokia Oyj by 10.0% in the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after acquiring an additional 8,261,407 shares during the period. FMR LLC increased its stake in shares of Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after buying an additional 27,755,460 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Nokia Oyj by 10.6% in the second quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock worth $3,787,000 after acquiring an additional 96,144 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Nokia Oyj by 2,505.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock valued at $3,191,000 after buying an additional 702,279 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Nokia Oyj in the second quarter valued at about $2,501,000. 5.28% of the stock is currently owned by 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.