Nokia Oyj (NYSE:NOK) Downgraded to “Buy” at StockNews.com

Nokia Oyj (NYSE:NOK) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

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

Nokia Oyj Stock Performance

NOK opened at $4.77 on Friday. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.82. The business has a 50 day moving average of $4.36 and a 200-day moving average of $3.98. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. The stock has a market cap of $26.34 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 6.07 and a beta of 1.12.

Institutional Investors Weigh In On Nokia Oyj

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Nokia Oyj in the 1st quarter valued at $35,000. GAMMA Investing LLC lifted its stake in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of Nokia Oyj in the first quarter worth $38,000. Simplicity Wealth LLC bought a new position in Nokia Oyj in the 2nd quarter worth about $39,000. Finally, ORG Partners LLC purchased a new position in Nokia Oyj during the first quarter valued at approximately $40,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.