Nokia Oyj (NYSE:NOK) Upgraded by StockNews.com to “Strong-Buy”

Nokia Oyj (NYSE:NOK) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Several other equities research analysts also recently weighed in on NOK. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. Northland Securities reissued an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Nokia Oyj currently has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Stock Up 9.3 %

Nokia Oyj stock traded up $0.41 during midday trading on Friday, hitting $4.75. 51,418,592 shares of the stock were exchanged, compared to its average volume of 15,482,190. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.78. The firm has a market cap of $26.21 billion, a P/E ratio of 29.66, a P/E/G 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. The company has a 50 day moving average price of $4.28 and a two-hundred day moving average price of $3.93.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. On average, sell-side analysts predict that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Maverick Capital Ltd. acquired a new position in Nokia Oyj during the 2nd quarter valued at about $1,240,000. PDS Planning Inc lifted its stake in shares of Nokia Oyj by 46.8% in the 1st quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock worth $120,000 after acquiring an additional 10,815 shares during the period. First Affirmative Financial Network lifted its stake in shares of Nokia Oyj by 10.3% in the 1st 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 period. Russell Investments Group Ltd. lifted its stake 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 acquiring an additional 867,297 shares during the period. Finally, CreativeOne Wealth LLC lifted its stake 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 acquiring an additional 6,768 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

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.