Nokia Oyj (NYSE:NOK) Sets New 1-Year High – Here’s Why

Nokia Oyj (NYSE:NOK)’s stock price reached a new 52-week high on Monday . The stock traded as high as $5.26 and last traded at $5.26, with a volume of 1149705 shares changing hands. The stock had previously closed at $5.23.

Wall Street Analysts Forecast Growth

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

Nokia Oyj Stock Up 0.3 %

The stock has a market cap of $28.60 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. 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’s 50 day moving average is $4.73 and its 200 day moving average is $4.52.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Equities analysts expect that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Trading of Nokia Oyj

Institutional investors have recently bought and sold shares of the company. PEAK6 Investments LLC bought a new position in shares of Nokia Oyj during the 3rd quarter valued at $45,000. Foundations Investment Advisors LLC acquired a new position in shares of Nokia Oyj during the 4th quarter valued at about $45,000. D.A. Davidson & CO. bought a new stake in Nokia Oyj during the fourth quarter worth approximately $46,000. Wedmont Private Capital bought a new position in shares of Nokia Oyj in the fourth quarter valued at approximately $47,000. Finally, Wealthstream Advisors Inc. acquired a new stake in shares of Nokia Oyj in the fourth quarter worth $49,000. 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.