Nokia Oyj (NYSE:NOK) Given New $7.00 Price Target at Craig Hallum

Nokia Oyj (NYSE:NOK) had its target price lifted by Craig Hallum from $6.00 to $7.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price indicates a potential upside of 53.85% from the company’s previous close.

Several other brokerages have also recently issued reports on NOK. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Northland Securities reiterated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research report on Friday, October 18th. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 25th. Finally, JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $4.35 to $6.35 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.62.

Nokia Oyj Stock Up 1.6 %

Nokia Oyj stock traded up $0.07 during midday trading on Monday, reaching $4.55. The company’s stock had a trading volume of 7,866,782 shares, compared to its average volume of 10,367,892. 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 stock has a market capitalization of $24.81 billion, a P/E ratio of 56.88, a PEG ratio of 5.80 and a beta of 1.06. The stock’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $4.23. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $4.95.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The company had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. On average, sell-side analysts expect that Nokia Oyj will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Maverick Capital Ltd. acquired a new stake in shares of Nokia Oyj in the second quarter valued at approximately $1,240,000. FMR LLC increased its stake in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares during the period. XTX Topco Ltd purchased a new stake in shares of Nokia Oyj in the third quarter valued at about $1,417,000. QRG Capital Management Inc. grew its holdings in shares of Nokia Oyj by 92.8% during the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after buying an additional 255,893 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in Nokia Oyj by 1,101.8% in the 3rd quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock valued at $786,000 after acquiring an additional 164,883 shares during the period. 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.