Nokia Oyj (NYSE:NOK) Reaches New 52-Week High – Still a Buy?

Nokia Oyj (NYSE:NOK) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.12 and last traded at $5.09, with a volume of 4456627 shares changing hands. The stock had previously closed at $4.80.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on 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 boosted their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Nokia Oyj currently has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Up 6.0 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The business has a 50 day simple moving average of $4.69 and a 200-day simple moving average of $4.50. The firm has a market capitalization of $28.22 billion, a price-to-earnings ratio of 20.70, a P/E/G 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 analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. On average, equities analysts expect that Nokia Oyj will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp purchased a new position in shares of Nokia Oyj during the 4th quarter worth $712,000. Forum Financial Management LP increased its position in shares of Nokia Oyj by 100.1% during the fourth quarter. Forum Financial Management LP now owns 191,570 shares of the technology company’s stock valued at $849,000 after acquiring an additional 95,825 shares during the last quarter. Formidable Asset Management LLC purchased a new stake in shares of Nokia Oyj in the 4th quarter valued at approximately $49,000. Woodline Partners LP lifted its holdings in shares of Nokia Oyj by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock worth $53,162,000 after acquiring an additional 6,677,017 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Nokia Oyj by 106.3% during the 4th quarter. Two Sigma Advisers LP now owns 528,000 shares of the technology company’s stock worth $2,339,000 after purchasing an additional 272,000 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.