Nokia Oyj (NYSE:NOK) Shares Gap Down – What’s Next?

Nokia Oyj (NYSE:NOK) gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Northland Securities reiterated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Thursday. JPMorgan Chase & Co. upgraded shares of 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 report on Monday, December 9th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Craig Hallum boosted their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.86.

Nokia Oyj Price Performance

The business’s fifty day moving average price is $4.41 and its 200-day moving average price is $4.30. The company has a market capitalization of $24.67 billion, a P/E ratio of 56.56, a P/E/G ratio of 5.72 and a beta of 1.06. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14.

Hedge Funds Weigh In On Nokia Oyj

A number of large investors have recently modified their holdings of the company. American Century Companies Inc. boosted its position in Nokia Oyj by 10.6% during the second quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock valued at $3,787,000 after buying an additional 96,144 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Nokia Oyj by 3.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 170,261 shares of the technology company’s stock valued at $644,000 after acquiring an additional 5,246 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Nokia Oyj by 15.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,165 shares of the technology company’s stock worth $101,000 after acquiring an additional 3,647 shares during the last quarter. Profund Advisors LLC increased its stake in Nokia Oyj by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 115,950 shares of the technology company’s stock worth $438,000 after purchasing an additional 3,349 shares during the period. Finally, Bank of Montreal Can bought a new stake in Nokia Oyj in the second quarter valued at approximately $2,501,000. 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.