Nokia Oyj (NYSE:NOK) Stock Rating Upgraded by StockNews.com

Nokia Oyj (NYSE:NOK) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Other analysts also recently issued reports about the stock. Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research note on Friday. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.54.

Nokia Oyj Stock Up 9.4 %

NOK opened at $4.75 on Friday. The company has a fifty day moving average price of $4.28 and a 200-day moving average price of $3.93. The firm has a market capitalization of $26.23 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. 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 has a one year low of $2.94 and a one year high of $4.78.

Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $5.12 billion. Equities research analysts expect that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently modified their holdings of the stock. Maverick Capital Ltd. purchased a new position in shares of Nokia Oyj during the second quarter valued at about $1,240,000. PDS Planning Inc increased its stake in shares of Nokia Oyj by 46.8% during the first quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock valued at $120,000 after purchasing an additional 10,815 shares in the last quarter. First Affirmative Financial Network grew its stake in shares of Nokia Oyj by 10.3% in the first 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 last quarter. Russell Investments Group Ltd. raised its position 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 purchasing an additional 867,297 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of Nokia Oyj by 62.3% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Oyj Company Profile

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.