Nokia Oyj (NYSE:NOK) Sees Strong Trading Volume – Still a Buy?

Nokia Oyj (NYSE:NOK) saw an uptick in trading volume on Wednesday . 16,017,831 shares traded hands during trading, an increase of 25% from the previous session’s volume of 12,837,626 shares.The stock last traded at $4.61 and had previously closed at $4.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NOK shares. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.35 to $6.35 in a report on Monday, December 9th. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research report on Thursday. Craig Hallum increased their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Nokia Oyj presently has an average rating of “Hold” and an average target price of $5.86.

Nokia Oyj Trading Up 1.5 %

The firm has a market capitalization of $24.56 billion, a P/E ratio of 56.31, a price-to-earnings-growth ratio of 5.61 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The stock’s 50-day simple moving average is $4.41 and its two-hundred day simple moving average is $4.28.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business 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%. Equities research analysts expect that Nokia Oyj will post 0.35 EPS for the current year.

Institutional Trading of Nokia Oyj

Institutional investors have recently bought and sold shares of the stock. Pzena Investment Management LLC increased its holdings in shares of Nokia Oyj by 10.0% during 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 purchasing an additional 8,261,407 shares in the last quarter. FMR LLC increased its position in Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. American Century Companies Inc. raised its position in shares of Nokia Oyj by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock valued at $3,787,000 after buying an additional 96,144 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Nokia Oyj by 2,505.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock valued at $3,191,000 after purchasing an additional 702,279 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in Nokia Oyj during the second quarter worth about $2,501,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.