Nokia Oyj (NYSE:NOK) Raised to “Buy” at Wall Street Zen

Nokia Oyj (NYSE:NOK) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, JPMorgan Chase & Co. reduced their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Nokia Oyj has an average rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $5.38 on Wednesday. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 6.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. Nokia Oyj has a 52 week low of $3.57 and a 52 week high of $5.48. The firm’s 50-day simple moving average is $5.11 and its two-hundred day simple moving average is $4.79.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.47 billion. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. As a group, equities analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Nokia Oyj

Hedge funds have recently bought and sold shares of the company. Wealthquest Corp purchased a new position in Nokia Oyj during the first quarter valued at approximately $27,000. Harbour Investments Inc. grew its stake in Nokia Oyj by 7,046.5% during the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock valued at $27,000 after acquiring an additional 5,003 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Nokia Oyj by 58.4% during the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after purchasing an additional 2,651 shares during the last quarter. Assetmark Inc. lifted its position in Nokia Oyj by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock valued at $43,000 after purchasing an additional 7,286 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new stake in Nokia Oyj during the fourth quarter valued at approximately $45,000. 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.