Nokia Oyj (NYSE:NOK) Stock Price Expected to Rise, Craig Hallum Analyst Says

Nokia Oyj (NYSE:NOK) had its target price upped by Craig Hallum from $6.00 to $7.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective would suggest a potential upside of 53.85% from the company’s previous close.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 25th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Northland Securities reiterated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.62.

Nokia Oyj Stock Performance

Nokia Oyj stock traded up $0.07 during trading on Monday, reaching $4.55. The company had a trading volume of 7,866,782 shares, compared to its average volume of 10,367,892. The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of 56.88, a price-to-earnings-growth ratio of 5.80 and a beta of 1.06. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $4.44 and its 200 day simple moving average is $4.23. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates 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%. Sell-side analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

Several institutional investors have recently added to or reduced their stakes in NOK. GAMMA Investing LLC increased its stake in shares of Nokia Oyj by 67.0% during the third 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 during the period. Pinnacle Associates Ltd. bought a new position in Nokia Oyj during the 3rd quarter worth about $44,000. JGP Wealth Management LLC bought a new stake in shares of Nokia Oyj in the 3rd quarter valued at about $45,000. PEAK6 Investments LLC purchased a new stake in shares of Nokia Oyj in the 3rd quarter worth approximately $45,000. Finally, Waldron Private Wealth LLC bought a new position in shares of Nokia Oyj during the third quarter valued at approximately $47,000. 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.