Ardsley Advisory Partners LP Purchases New Holdings in Nokia Oyj (NYSE:NOK)

Ardsley Advisory Partners LP purchased a new stake in shares of Nokia Oyj (NYSE:NOK) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 11,000 shares of the technology company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NOK. Geode Capital Management LLC raised its holdings in Nokia Oyj by 40.2% in the fourth quarter. Geode Capital Management LLC now owns 21,517 shares of the technology company’s stock worth $125,000 after buying an additional 6,167 shares during the last quarter. Deutsche Bank AG raised its holdings in Nokia Oyj by 14,125.0% in the fourth quarter. Deutsche Bank AG now owns 143,673 shares of the technology company’s stock worth $835,000 after buying an additional 142,663 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Nokia Oyj in the first quarter worth about $101,000. Janney Montgomery Scott LLC raised its holdings in Nokia Oyj by 40.1% in the first quarter. Janney Montgomery Scott LLC now owns 240,095 shares of the technology company’s stock worth $1,373,000 after buying an additional 68,777 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its holdings in Nokia Oyj by 877.8% in the first quarter. Cornerstone Advisors Inc. now owns 28,103 shares of the technology company’s stock worth $161,000 after buying an additional 25,229 shares during the last quarter. 7.58% of the stock is owned by institutional investors.

NOK opened at $5.24 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $5.21 and a 200-day moving average price of $5.38. Nokia Oyj has a twelve month low of $4.71 and a twelve month high of $6.65. The stock has a market capitalization of $29.00 billion, a price-to-earnings ratio of 19.41 and a beta of 0.28.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Nokia Oyj had a negative net margin of 2.26% and a positive return on equity of 7.84%. The firm had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $0.03 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that Nokia Oyj will post 0.27 earnings per share for the current year.

NOK has been the subject of several recent analyst reports. ValuEngine raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Raymond James raised shares of Nokia Oyj from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 25th. Charter Equity raised shares of Nokia Oyj from a “market perform” rating to a “buy” rating in a report on Friday, July 26th. Zacks Investment Research raised shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Monday, July 29th. Finally, Craig Hallum reissued a “buy” rating on shares of Nokia Oyj in a report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $6.83.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

Read More: Understanding the Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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