Nokia Oyj (NYSE:NOK) Sets New 52-Week High – Here’s Why

Nokia Oyj (NYSE:NOK)’s share price hit a new 52-week high on Monday . The company traded as high as $5.12 and last traded at $5.09, with a volume of 4456627 shares traded. The stock had previously closed at $4.80.

Analyst Ratings Changes

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

Nokia Oyj Stock Performance

The company has a market cap of $27.73 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 6.43 and a beta of 1.06. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $4.67 and its 200 day simple moving average is $4.48.

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

Institutional Trading of Nokia Oyj

A number of hedge funds have recently bought and sold shares of the business. Pzena Investment Management LLC raised its holdings in Nokia Oyj by 10.0% in the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after acquiring an additional 8,261,407 shares during the last quarter. FMR LLC grew its stake in shares of Nokia Oyj by 62.3% in the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company’s stock valued at $219,292,000 after buying an additional 19,004,399 shares during the period. Slate Path Capital LP grew its stake in shares of Nokia Oyj by 15.6% in the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company’s stock valued at $134,845,000 after buying an additional 4,113,884 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Nokia Oyj by 179.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock valued at $128,728,000 after buying an additional 18,660,482 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Nokia Oyj in the 4th quarter valued at approximately $53,481,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.