Nokia Oyj (NYSE:NOK) Shares Gap Down – What’s Next?

Nokia Oyj (NYSE:NOK) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.25, but opened at $4.11. Nokia Oyj shares last traded at $4.09, with a volume of 2,386,983 shares traded.

Analyst Ratings Changes

A number of analysts have commented on the stock. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. decreased their price target on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and a consensus price target of $4.56.

Nokia Oyj Stock Performance

The stock has a market capitalization of $22.79 billion, a price-to-earnings ratio of 52.25, a price-to-earnings-growth ratio of 5.37 and a beta of 1.12. 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 stock’s 50 day moving average is $4.47 and its two-hundred day moving average is $4.11.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. Analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its position in Nokia Oyj by 10.0% during the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock worth $396,735,000 after buying an additional 8,261,407 shares in the last quarter. FMR LLC lifted its position in Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after buying an additional 27,755,460 shares in the last quarter. American Century Companies Inc. lifted its position in Nokia Oyj by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock worth $3,787,000 after buying an additional 96,144 shares in the last quarter. Clean Yield Group lifted its position in Nokia Oyj by 3.6% during the 1st quarter. Clean Yield Group now owns 918,980 shares of the technology company’s stock worth $3,253,000 after buying an additional 32,215 shares in the last quarter. Finally, Waterfront Wealth Inc. lifted its position in Nokia Oyj by 10.3% during the 2nd quarter. Waterfront Wealth Inc. now owns 761,780 shares of the technology company’s stock worth $2,880,000 after buying an additional 71,022 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

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.