Nokia Oyj (NYSE:NOK) Sees Strong Trading Volume – Here’s Why

Nokia Oyj (NYSE:NOK) shares saw unusually-strong trading volume on Tuesday . Approximately 28,557,307 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 15,805,476 shares.The stock last traded at $4.22 and had previously closed at $4.46.

Wall Street Analyst Weigh In

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

Nokia Oyj Stock Performance

The firm has a market capitalization of $22.63 billion, a P/E ratio of 51.50, a price-to-earnings-growth ratio of 5.77 and a beta of 1.12. The company’s 50 day moving average is $4.47 and its 200-day moving average is $4.10. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. As a group, equities analysts anticipate that Nokia Oyj will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NOK. GAMMA Investing LLC raised its position in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after acquiring an additional 3,427 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Nokia Oyj in the 1st quarter worth approximately $35,000. Pinnacle Associates Ltd. purchased a new position in Nokia Oyj in the 3rd quarter worth approximately $44,000. JGP Wealth Management LLC purchased a new position in Nokia Oyj in the 3rd quarter worth approximately $45,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Nokia Oyj in the 2nd quarter worth approximately $39,000. 5.28% of the stock is owned by institutional investors.

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.