Nokia Oyj (NYSE:NOK) Downgraded by The Goldman Sachs Group to Sell

The Goldman Sachs Group cut shares of Nokia Oyj (NYSE:NOK) from a neutral rating to a sell rating in a research note published on Thursday morning, MarketBeat reports. The brokerage currently has $3.60 target price on the technology company’s stock.

A number of other equities analysts have also commented on NOK. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.35 to $6.35 in a report on Monday, December 9th. Craig Hallum increased their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.86.

Nokia Oyj Stock Performance

NYSE NOK opened at $4.45 on Thursday. The firm has a market cap of $24.24 billion, a price-to-earnings ratio of 55.56, a price-to-earnings-growth ratio of 5.61 and a beta of 1.06. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $4.41 and a 200-day moving average price of $4.27. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $4.95.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The company had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. As a group, equities research analysts predict that Nokia Oyj will post 0.35 EPS for the current fiscal year.

Institutional Trading of Nokia Oyj

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Nokia Oyj by 67.0% in the 3rd 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 in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Nokia Oyj in the 3rd quarter worth $44,000. Alternative Investment Advisors LLC. acquired a new stake in shares of Nokia Oyj in the 2nd quarter worth $45,000. JGP Wealth Management LLC acquired a new stake in Nokia Oyj during the 3rd quarter worth about $45,000. Finally, PEAK6 Investments LLC acquired a new stake in Nokia Oyj during the 3rd quarter worth about $45,000. Institutional investors own 5.28% of the company’s stock.

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.