Nokia Oyj (NYSE:NOK) Reaches New 52-Week High – Still a Buy?

Nokia Oyj (NYSE:NOK)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $4.82 and last traded at $4.80, with a volume of 3679077 shares. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NOK shares. Northland Securities restated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.56.

Nokia Oyj Trading Down 0.4 %

The firm has a 50 day moving average price of $4.33 and a 200 day moving average price of $3.96. The stock has a market capitalization of $26.40 billion, a PE ratio of 29.88, a P/E/G ratio of 6.07 and a beta of 1.12. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13.

Institutional Trading of Nokia Oyj

Several institutional investors have recently made changes to their positions in NOK. GAMMA Investing LLC boosted its holdings in Nokia Oyj by 67.0% during 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 during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Nokia Oyj in the 1st quarter worth approximately $35,000. JGP Wealth Management LLC bought a new position in shares of Nokia Oyj in the third quarter valued at approximately $45,000. Simplicity Wealth LLC purchased a new stake in shares of Nokia Oyj during the second quarter valued at approximately $39,000. Finally, Arkadios Wealth Advisors bought a new stake in Nokia Oyj during the second quarter worth $40,000. Institutional investors own 5.28% of the company’s stock.

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.