Nokia Oyj (NYSE:NOK) Shares Gap Down – What’s Next?

Nokia Oyj (NYSE:NOK) gapped down prior to trading on Thursday . The stock had previously closed at $4.25, but opened at $4.11. Nokia Oyj shares last traded at $4.09, with a volume of 2,386,983 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Northland Securities reiterated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their target price on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nokia Oyj presently has a consensus rating of “Hold” and an average target price of $4.56.

Nokia Oyj Price Performance

The stock has a market capitalization of $22.79 billion, a P/E ratio of 53.00, a price-to-earnings-growth ratio of 5.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The stock has a 50-day simple moving average of $4.47 and a 200 day simple moving average of $4.11.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, equities analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

Institutional investors have recently modified their holdings of the company. Truist Financial Corp raised its holdings in Nokia Oyj by 15.7% during the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after acquiring an additional 2,710 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Nokia Oyj by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock valued at $392,000 after buying an additional 2,776 shares during the period. Caprock Group LLC raised its stake in Nokia Oyj by 5.5% in the third quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock valued at $252,000 after buying an additional 3,023 shares during the period. V Square Quantitative Management LLC raised its stake in Nokia Oyj by 3.9% in the second quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company’s stock valued at $328,000 after buying an additional 3,097 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of Nokia Oyj by 30.8% in the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock valued at $59,000 after purchasing an additional 3,199 shares during 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.