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

Nokia Oyj (NYSE:NOK) was the recipient of some unusual options trading on Thursday. Stock investors acquired 27,461 call options on the stock. This represents an increase of 337% compared to the average daily volume of 6,286 call options.

Institutional Trading of Nokia Oyj

Several hedge funds have recently bought and sold shares of the stock. PDS Planning Inc boosted its position in shares of Nokia Oyj by 46.8% during the 1st quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock valued at $120,000 after acquiring an additional 10,815 shares during the last quarter. First Affirmative Financial Network grew 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 buying an additional 2,932 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Nokia Oyj by 98.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after buying an additional 867,297 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of Nokia Oyj by 62.3% during the 1st quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company’s stock valued at $63,000 after buying an additional 6,768 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Nokia Oyj in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NOK shares. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 19th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.54.

Nokia Oyj Price Performance

Shares of NYSE NOK traded up $0.07 during mid-day trading on Thursday, reaching $4.43. The company’s stock had a trading volume of 8,793,493 shares, compared to its average volume of 15,016,605. The stock has a fifty day moving average of $4.07 and a two-hundred day moving average of $3.84. The firm has a market capitalization of $24.36 billion, a PE ratio of 27.69, a P/E/G ratio of 5.27 and a beta of 1.12. Nokia Oyj has a 52 week low of $2.94 and a 52 week 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.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) 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 analysts’ expectations of $5.12 billion. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.36 EPS for the current fiscal year.

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.