Stock Traders Purchase High Volume of Nokia Oyj Put Options (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the target of some unusual options trading on Tuesday. Stock traders purchased 24,464 put options on the company. This is an increase of 208% compared to the typical volume of 7,945 put options.

Analyst Ratings Changes

Several analysts have weighed in on NOK shares. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. JPMorgan Chase & Co. dropped their price objective 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 Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Northland Securities restated an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. 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 MarketBeat, Nokia Oyj has an average rating of “Hold” and an average target price of $4.56.

Institutional Investors Weigh In On Nokia Oyj

Several institutional investors have recently bought and sold shares of the company. Maverick Capital Ltd. bought a new stake in shares of Nokia Oyj during the 2nd quarter worth approximately $1,240,000. CreativeOne Wealth LLC raised its stake in shares of Nokia Oyj by 62.3% during 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 in the last quarter. QRG Capital Management Inc. raised its stake in shares of Nokia Oyj by 92.8% during 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 in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Nokia Oyj during the 3rd quarter worth approximately $821,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Nokia Oyj during the 2nd quarter worth approximately $206,000. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Down 1.0 %

NYSE NOK traded down $0.04 during trading on Tuesday, hitting $4.17. The stock had a trading volume of 7,704,903 shares, compared to its average volume of 16,086,323. The company has a market capitalization of $22.74 billion, a PE ratio of 52.56, a P/E/G ratio of 5.41 and a beta of 1.12. The company’s 50-day moving average price is $4.47 and its two-hundred day moving average price is $4.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. Nokia Oyj has a 12 month low of $2.94 and a 12 month 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, meeting the consensus estimate of $0.07. The firm had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. As a group, sell-side analysts forecast that Nokia Oyj will post 0.34 EPS for the current year.

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.