Nokia Oyj (NYSE:NOK) Shares Purchased by Caprock Group LLC

Caprock Group LLC boosted its stake in shares of Nokia Oyj (NYSE:NOK) by 19.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 54,743 shares of the technology company’s stock after purchasing an additional 8,793 shares during the quarter. Caprock Group LLC’s holdings in Nokia Oyj were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise grew its holdings in shares of Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after acquiring an additional 3,000 shares during the period. Tieton Capital Management LLC acquired a new position in Nokia Oyj during the fourth quarter worth $34,000. Checchi Capital Advisers LLC acquired a new stake in Nokia Oyj in the first quarter valued at $35,000. Peapack Gladstone Financial Corp purchased a new position in shares of Nokia Oyj in the fourth quarter valued at $35,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Nokia Oyj during the 1st quarter worth $35,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOK has been the topic of several recent research reports. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st. Northland Securities reissued an “outperform” rating and issued a $6.50 target price (up previously from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Price Performance

NOK opened at $4.21 on Friday. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 5.13 and a beta of 1.12. Nokia Oyj has a 12 month low of $2.94 and a 12 month 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. The business has a 50-day moving average of $4.01 and a two-hundred day moving average of $3.80.

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

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.