Nokia Oyj (NYSE:NOK) Shares Gap Down – What’s Next?

Shares of Nokia Oyj (NYSE:NOK) gapped down before the market opened on Thursday . The stock had previously closed at $4.25, but opened at $4.11. Nokia Oyj shares last traded at $4.09, with a volume of 2,386,983 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Northland Securities reissued an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Finally, StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and a consensus target price of $4.56.

Nokia Oyj Stock Up 1.2 %

The business’s 50 day moving average price is $4.47 and its 200-day moving average price is $4.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The company has a market cap of $22.79 billion, a P/E ratio of 52.25, a PEG ratio of 5.37 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. On average, analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Maverick Capital Ltd. bought a new position in Nokia Oyj in the 2nd quarter worth approximately $1,240,000. CreativeOne Wealth LLC raised its position in 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. QRG Capital Management Inc. raised its position in Nokia Oyj by 92.8% in the 3rd quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after purchasing an additional 255,893 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Nokia Oyj in the 3rd quarter worth approximately $821,000. Finally, Sanctuary Advisors LLC acquired a new stake in Nokia Oyj during the 2nd quarter worth $206,000. 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.