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

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

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

Nokia Oyj Stock Down 1.2 %

Shares of NYSE:NOK traded down $0.05 during trading on Thursday, hitting $4.42. 7,057,351 shares of the company were exchanged, compared to its average volume of 15,052,088. The stock has a market capitalization of $24.38 billion, a P/E ratio of 27.59, a PEG ratio of 5.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.52. The firm’s 50 day moving average price is $4.19 and its 200-day moving average price is $3.89.

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

Hedge Funds Weigh In On Nokia Oyj

A number of large investors have recently bought and sold shares of NOK. Banque Cantonale Vaudoise raised its position in Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after buying an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Nokia Oyj during the 1st quarter worth $35,000. GAMMA Investing LLC grew its stake in shares of Nokia Oyj by 67.0% during the 3rd 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 during the period. Perigon Wealth Management LLC acquired a new position in shares of Nokia Oyj during the 1st quarter worth $38,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Nokia Oyj during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.