Nokia Oyj (NYSE:NOK) Shares Gap Down – Should You Sell?

Shares of Nokia Oyj (NYSE:NOK) gapped down before the market opened on Friday . The stock had previously closed at $4.69, but opened at $4.54. Nokia Oyj shares last traded at $4.53, with a volume of 2,880,700 shares traded.

Analyst Upgrades and Downgrades

NOK has been the topic of several recent analyst reports. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.86.

Nokia Oyj Price Performance

The company has a market capitalization of $24.56 billion, a P/E ratio of 56.31, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The company has a fifty day moving average price of $4.41 and a 200 day moving average price of $4.30.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NOK. Pzena Investment Management LLC raised its holdings in shares of Nokia Oyj by 10.0% during the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after buying an additional 8,261,407 shares during the last quarter. FMR LLC increased its position in Nokia Oyj by 1,012.3% in the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after acquiring an additional 27,755,460 shares during the period. JPMorgan Chase & Co. raised its stake in Nokia Oyj by 2,505.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock valued at $3,191,000 after acquiring an additional 702,279 shares in the last quarter. Bank of Montreal Can acquired a new position in Nokia Oyj during the 2nd quarter worth $2,501,000. Finally, QRG Capital Management Inc. grew its stake in shares of Nokia Oyj by 92.8% in the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after purchasing an additional 255,893 shares in the last quarter. 5.28% of the stock is currently 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.