Investors Purchase Large Volume of Nokia Oyj Call Options (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the recipient of unusually large options trading on Thursday. Investors purchased 15,706 call options on the stock. This represents an increase of 107% compared to the average volume of 7,572 call options.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PDS Planning Inc lifted its holdings in Nokia Oyj by 46.8% in the first quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock worth $120,000 after purchasing an additional 10,815 shares during the period. First Affirmative Financial Network lifted its stake in shares of Nokia Oyj by 10.3% in the 1st quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after acquiring an additional 2,932 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Nokia Oyj by 98.3% in the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after acquiring an additional 867,297 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Nokia Oyj by 6.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 81,070 shares of the technology company’s stock valued at $277,000 after acquiring an additional 4,761 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in Nokia Oyj by 62.3% during the first quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company’s stock worth $63,000 after purchasing an additional 6,768 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Price Performance

Shares of NOK opened at $4.48 on Friday. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The stock has a fifty day moving average price of $3.89 and a 200 day moving average price of $3.73. The company has a market cap of $24.71 billion, a P/E ratio of 28.00, a PEG ratio of 4.79 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $5.12 billion. On average, research analysts forecast that Nokia Oyj will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.89.

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.