Nokia Oyj (NYSE:NOK) Shares Gap Up – Should You Buy?

Nokia Oyj (NYSE:NOK)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.27, but opened at $5.40. Nokia Oyj shares last traded at $5.34, with a volume of 2,859,516 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NOK shares. JPMorgan Chase & Co. decreased their price objective on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Craig Hallum raised their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. Finally, StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. One equities research analyst has 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 has an average rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Price Performance

The business’s fifty day simple moving average is $5.00 and its 200-day simple moving average is $4.64. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The firm has a market cap of $29.28 billion, a P/E ratio of 21.48, a PEG ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, analysts forecast that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Trading of Nokia Oyj

Several institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Nokia Oyj by 35.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 346,358 shares of the technology company’s stock worth $1,514,000 after purchasing an additional 91,459 shares during the period. Cerity Partners LLC raised its holdings in shares of Nokia Oyj by 72.1% in the 3rd quarter. Cerity Partners LLC now owns 126,144 shares of the technology company’s stock valued at $551,000 after acquiring an additional 52,855 shares in the last quarter. FMR LLC boosted its position in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after acquiring an additional 27,755,460 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of Nokia Oyj during the third quarter worth about $84,000. Finally, Glenmede Trust Co. NA increased its position in shares of Nokia Oyj by 22.7% in the third quarter. Glenmede Trust Co. NA now owns 55,043 shares of the technology company’s stock worth $241,000 after purchasing an additional 10,179 shares during the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.