Nokia Oyj (NYSE:NOK) Receives $5.86 Consensus Target Price from Brokerages

Shares of Nokia Oyj (NYSE:NOK) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.86.

NOK has been the topic of a number of research analyst reports. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Craig Hallum boosted their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. Finally, Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors have recently modified their holdings of the business. Arkfeld Wealth Strategies L.L.C. grew its stake in Nokia Oyj by 23.1% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 21,320 shares of the technology company’s stock valued at $95,000 after purchasing an additional 4,000 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of Nokia Oyj by 28.2% in the 4th quarter. Atomi Financial Group Inc. now owns 47,134 shares of the technology company’s stock worth $209,000 after buying an additional 10,354 shares during the last quarter. Monterey Private Wealth Inc. bought a new position in Nokia Oyj during the fourth quarter valued at about $61,000. Crossmark Global Holdings Inc. raised its position in Nokia Oyj by 1.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 379,055 shares of the technology company’s stock worth $1,680,000 after acquiring an additional 4,943 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of Nokia Oyj by 7.0% during the 4th quarter. Ballentine Partners LLC now owns 58,540 shares of the technology company’s stock valued at $259,000 after acquiring an additional 3,808 shares during the period. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Trading Up 2.3 %

NYSE NOK opened at $4.62 on Friday. The firm has a market capitalization of $25.16 billion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 5.59 and a beta of 1.06. Nokia Oyj has a 12 month low of $3.29 and a 12 month high of $4.95. 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 business’s 50-day moving average price is $4.40 and its two-hundred day moving average price is $4.29.

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.