Nokia Oyj (NYSE:NOK) Stock Price Expected to Rise, Craig Hallum Analyst Says

Nokia Oyj (NYSE:NOK) had its target price boosted by Craig Hallum from $6.00 to $7.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. Finally, StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nokia Oyj has an average rating of “Moderate Buy” and an average target price of $6.62.

Nokia Oyj Trading Up 1.6 %

NOK stock opened at $4.55 on Monday. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $4.95. 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 business’s 50 day moving average is $4.43 and its 200-day moving average is $4.24. The firm has a market cap of $24.81 billion, a P/E ratio of 56.88, a P/E/G ratio of 5.80 and a beta of 1.06.

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

Institutional Trading of Nokia Oyj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position 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 buying an additional 3,427 shares during the period. Pinnacle Associates Ltd. bought a new position in Nokia Oyj in the third quarter valued at approximately $44,000. JGP Wealth Management LLC acquired a new stake in Nokia Oyj during the 3rd quarter worth $45,000. PEAK6 Investments LLC bought a new stake in shares of Nokia Oyj during the 3rd quarter valued at $45,000. Finally, Waldron Private Wealth LLC acquired a new position in shares of Nokia Oyj in the 3rd quarter valued at $47,000. 5.28% of the stock is owned by institutional investors.

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.