Nokia Oyj (NYSE:NOK) Hits New 52-Week High – What’s Next?

Nokia Oyj (NYSE:NOK)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $5.35 and last traded at $5.37, with a volume of 77212 shares. The stock had previously closed at $5.33.

Analysts Set New Price Targets

A number of research firms recently commented on NOK. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st. Craig Hallum lifted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Nokia Oyj presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Stock Performance

The firm has a 50-day moving average of $4.84 and a two-hundred day moving average of $4.57. The company has a quick ratio of 1.39, a current ratio of 1.58 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $29.58 billion, a PE ratio of 21.70, a PEG ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Research analysts anticipate that Nokia Oyj will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC increased its position in shares of Nokia Oyj by 60.2% in the third quarter. Natixis Advisors LLC now owns 208,696 shares of the technology company’s stock valued at $912,000 after buying an additional 78,391 shares in the last quarter. Caprock Group LLC increased its position in shares of Nokia Oyj by 5.5% in the third quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock valued at $252,000 after buying an additional 3,023 shares in the last quarter. West Family Investments Inc. purchased a new stake in shares of Nokia Oyj in the third quarter valued at approximately $115,000. Advisors Asset Management Inc. increased its position in shares of Nokia Oyj by 49.6% in the third quarter. Advisors Asset Management Inc. now owns 287,364 shares of the technology company’s stock valued at $1,256,000 after buying an additional 95,279 shares in the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of Nokia Oyj by 10.0% in the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after buying an additional 8,261,407 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.