Nokia Oyj (NYSE:NOK) Rating Lowered to “Hold” at StockNews.com

Nokia Oyj (NYSE:NOK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other research firms have also recently weighed in on NOK. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. Craig Hallum raised their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Performance

NOK opened at $4.63 on Monday. The firm has a fifty day moving average price of $5.03 and a 200 day moving average price of $4.66. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $5.48. The stock has a market cap of $25.22 billion, a P/E ratio of 18.50, a P/E/G ratio of 6.43 and a beta of 0.97. 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 issued its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. Equities research analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors and hedge funds have recently bought and sold shares of NOK. Foundations Investment Advisors LLC acquired a new stake in shares of Nokia Oyj during the 4th quarter worth about $45,000. D.A. Davidson & CO. purchased a new stake in shares of Nokia Oyj in the 4th quarter valued at approximately $46,000. Wedmont Private Capital acquired a new position in shares of Nokia Oyj in the 4th quarter worth approximately $47,000. Wealthstream Advisors Inc. purchased a new position in shares of Nokia Oyj during the 4th quarter worth approximately $49,000. Finally, Formidable Asset Management LLC acquired a new stake in Nokia Oyj in the 4th quarter valued at approximately $49,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.