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

Nokia Oyj (NYSE:NOK) had its target price raised by stock analysts at Craig Hallum from $6.00 to $7.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price suggests a potential upside of 51.19% from the stock’s previous close.

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

Nokia Oyj Trading Up 1.5 %

NYSE NOK opened at $4.63 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $4.95. The business has a 50 day moving average price of $4.42 and a 200-day moving average price of $4.24. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 57.88, 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 for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. As a group, equities analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

A number of institutional investors and hedge funds have recently modified their holdings of NOK. Allspring Global Investments Holdings LLC grew its stake in Nokia Oyj by 240.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 33,916 shares of the technology company’s stock valued at $128,000 after purchasing an additional 23,944 shares during the period. Natixis Advisors LLC grew its position in Nokia Oyj by 50.3% during the second quarter. Natixis Advisors LLC now owns 130,305 shares of the technology company’s stock valued at $493,000 after buying an additional 43,634 shares during the period. Gallacher Capital Management LLC increased its holdings in Nokia Oyj by 7.5% during the second quarter. Gallacher Capital Management LLC now owns 75,995 shares of the technology company’s stock worth $287,000 after buying an additional 5,310 shares during the last quarter. Caprock Group LLC raised its position in Nokia Oyj by 19.1% in the second quarter. Caprock Group LLC now owns 54,743 shares of the technology company’s stock worth $207,000 after acquiring an additional 8,793 shares during the period. Finally, Ballentine Partners LLC boosted its stake in Nokia Oyj by 16.6% in the second quarter. Ballentine Partners LLC now owns 50,128 shares of the technology company’s stock valued at $189,000 after acquiring an additional 7,144 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.