JPMorgan Chase & Co. Cuts Nokia Oyj (NYSE:NOK) Price Target to $4.35

Nokia Oyj (NYSE:NOK) had its price target cut by JPMorgan Chase & Co. from $4.36 to $4.35 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

NOK has been the subject of several other reports. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nokia Oyj has an average rating of “Hold” and a consensus target price of $4.56.

Nokia Oyj Trading Down 0.8 %

NOK stock opened at $4.67 on Monday. Nokia Oyj has a one year low of $2.94 and a one year high of $4.82. The company has a market capitalization of $25.79 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. The company’s 50 day moving average price is $4.33 and its two-hundred day moving average price is $3.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds and other institutional investors have recently made changes to their positions in NOK. Pzena Investment Management LLC boosted its holdings in Nokia Oyj by 22.3% in the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock valued at $311,943,000 after acquiring an additional 15,035,360 shares in the last quarter. Sei Investments Co. increased its position in shares of Nokia Oyj by 1.5% during the first quarter. Sei Investments Co. now owns 2,674,435 shares of the technology company’s stock valued at $9,467,000 after buying an additional 40,264 shares during the period. TSP Capital Management Group LLC raised its stake in Nokia Oyj by 89.2% in the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock worth $7,715,000 after buying an additional 1,027,600 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Nokia Oyj by 98.3% during the 1st 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. Finally, Susquehanna International Securities Ltd. grew its holdings in shares of Nokia Oyj by 13.9% during the 1st quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company’s stock worth $5,795,000 after acquiring an additional 199,590 shares during the period. Institutional investors 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.