Nokia Oyj (NYSE:NOK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Nokia Oyj (NYSE:NOK) have earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.86.

Several analysts recently issued reports on NOK shares. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a report on Thursday, January 16th. Craig Hallum increased their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their target price for the company from $4.35 to $6.35 in a research note on Monday, December 9th.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds have recently bought and sold shares of NOK. GAMMA Investing LLC grew its stake in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in Nokia Oyj in the third quarter worth about $44,000. Alternative Investment Advisors LLC. acquired a new position in Nokia Oyj in the second quarter worth about $45,000. JGP Wealth Management LLC acquired a new position in Nokia Oyj in the third quarter worth about $45,000. Finally, PEAK6 Investments LLC bought a new position in Nokia Oyj in the third quarter worth about $45,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Oyj Trading Up 1.6 %

Shares of NOK opened at $4.69 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $25.55 billion, a P/E ratio of 58.58, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06. The stock’s fifty day simple moving average is $4.41 and its 200 day simple moving average is $4.30. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $4.95.

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.