Northland Securities Reaffirms “Outperform” Rating for Nokia Oyj (NYSE:NOK)

Northland Securities reaffirmed their outperform rating on shares of Nokia Oyj (NYSE:NOK) in a research note released on Wednesday morning, Benzinga reports. They currently have a $6.50 price objective on the technology company’s stock, up from their previous price objective of $6.00.

Separately, StockNews.com raised Nokia Oyj from a buy rating to a strong-buy rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $4.54.

Nokia Oyj Price Performance

Shares of NOK stock opened at $4.38 on Wednesday. The firm has a fifty day moving average of $3.96 and a two-hundred day moving average of $3.76. The firm has a market cap of $24.08 billion, a P/E ratio of 27.38, a P/E/G ratio of 5.46 and a beta of 1.12. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, research analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. PDS Planning Inc grew its position in shares of Nokia Oyj by 46.8% during the first 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 last quarter. First Affirmative Financial Network increased its stake in shares of Nokia Oyj by 10.3% in the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock valued at $111,000 after purchasing an additional 2,932 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Nokia Oyj by 98.3% during the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after buying an additional 867,297 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Nokia Oyj by 6.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 81,070 shares of the technology company’s stock worth $277,000 after buying an additional 4,761 shares during the period. Finally, CreativeOne Wealth LLC grew its holdings in 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 buying an additional 6,768 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.

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.