Nokia Oyj (NYSE:NOK – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.30, but opened at $3.37. Nokia Oyj shares last traded at $3.37, with a volume of 5,826,819 shares.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. BNP Paribas assumed coverage on Nokia Oyj in a report on Friday, January 12th. They set a “neutral” rating for the company. JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barclays cut Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.42.
Check Out Our Latest Report on Nokia Oyj
Nokia Oyj Stock Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. During the same quarter in the prior year, the company earned $0.16 EPS. Equities analysts anticipate that Nokia Oyj will post 0.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Nokia Oyj
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Nokia Oyj by 18.9% in the 1st quarter. BlackRock Inc. now owns 4,795,249 shares of the technology company’s stock valued at $26,183,000 after purchasing an additional 763,930 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nokia Oyj by 79.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,029,643 shares of the technology company’s stock valued at $27,462,000 after purchasing an additional 2,221,142 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Nokia Oyj in the 1st quarter valued at approximately $55,000. Sequoia Financial Advisors LLC raised its position in shares of Nokia Oyj by 44.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 62,728 shares of the technology company’s stock valued at $343,000 after purchasing an additional 19,430 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Nokia Oyj by 171.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,493 shares of the technology company’s stock valued at $183,000 after purchasing an additional 21,146 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.
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.
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