Nokia Oyj Target of Unusually High Options Trading (NYSE:NOK)

Nokia Oyj (NYSE:NOK) saw some unusual options trading on Tuesday. Investors purchased 24,464 put options on the company. This is an increase of approximately 208% compared to the typical daily volume of 7,945 put options.

Nokia Oyj Stock Performance

NYSE:NOK opened at $4.18 on Wednesday. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.95. 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 firm has a market capitalization of $22.76 billion, a PE ratio of 52.19, a price-to-earnings-growth ratio of 5.41 and a beta of 1.12. The business’s fifty day moving average price is $4.47 and its 200 day moving average price is $4.12.

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 business had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. On average, sell-side analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the last quarter. Simplicity Wealth LLC purchased a new position in Nokia Oyj during the 2nd quarter worth approximately $39,000. Occidental Asset Management LLC acquired a new position in Nokia Oyj during the second quarter worth approximately $40,000. Arkadios Wealth Advisors purchased a new stake in Nokia Oyj in the second quarter valued at approximately $40,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Nokia Oyj in the second quarter valued at approximately $42,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOK shares. Northland Securities reissued an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. JPMorgan Chase & Co. dropped their price target on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Finally, Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.56.

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.