StockNews.com Downgrades Nokia Oyj (NYSE:NOK) to Buy

Nokia Oyj (NYSE:NOK) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Separately, Northland Securities restated an “outperform” rating and set a $6.50 price target (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.54.

Nokia Oyj Stock Performance

NYSE:NOK opened at $4.27 on Thursday. The company has a market capitalization of $23.58 billion, a PE ratio of 26.69, a P/E/G ratio of 5.13 and a beta of 1.12. The company has a 50 day simple moving average of $4.04 and a two-hundred day simple moving average of $3.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.52.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. Research analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently modified their holdings of NOK. Truist Financial Corp lifted its holdings in shares of Nokia Oyj by 15.7% in the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after purchasing an additional 2,710 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Nokia Oyj by 8.6% in the 4th quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock worth $120,000 after purchasing an additional 2,788 shares in the last quarter. First Affirmative Financial Network lifted its holdings in shares of Nokia Oyj by 10.3% in the 1st quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after purchasing an additional 2,932 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Nokia Oyj by 3.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company’s stock worth $328,000 after purchasing an additional 3,097 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.

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.