Nokia Oyj (NYSE:NOK) Sets New 1-Year High – Still a Buy?

Nokia Oyj (NYSE:NOK) reached a new 52-week high during trading on Monday . The company traded as high as $5.35 and last traded at $5.37, with a volume of 77212 shares changing hands. The stock had previously closed at $5.33.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOK. Craig Hallum upped their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, 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. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Stock Performance

The company has a market capitalization of $29.36 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 6.43 and a beta of 1.11. The stock has a 50-day moving average price of $4.81 and a 200-day moving average price of $4.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Nokia Oyj

Large investors have recently made changes to their positions in the company. Foundations Investment Advisors LLC bought a new position in shares of Nokia Oyj during the fourth quarter worth approximately $45,000. D.A. Davidson & CO. bought a new position in Nokia Oyj during the 4th quarter worth $46,000. PEAK6 Investments LLC bought a new position in Nokia Oyj during the 3rd quarter worth $45,000. Wedmont Private Capital bought a new position in Nokia Oyj during the 4th quarter worth $47,000. Finally, Wealthstream Advisors Inc. bought a new position in Nokia Oyj during the 4th quarter worth $49,000. 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.