Stock Traders Buy High Volume of Nokia Call Options (NYSE:NOK)

Nokia Corporation (NYSE:NOK) saw unusually large options trading activity on Tuesday. Investors purchased 68,103 call options on the stock. This represents an increase of 486% compared to the typical volume of 11,619 call options.

Institutional Trading of Nokia

Several hedge funds have recently modified their holdings of NOK. Harbour Investments Inc. boosted its position in shares of Nokia by 7,046.5% during the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock worth $27,000 after purchasing an additional 5,003 shares in the last quarter. Wealthquest Corp bought a new position in shares of Nokia during the 1st quarter worth about $27,000. FNY Investment Advisers LLC bought a new position in shares of Nokia during the 2nd quarter worth about $34,000. Farther Finance Advisors LLC boosted its position in shares of Nokia by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Nokia by 763.7% during the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after purchasing an additional 7,286 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Performance

Shares of NOK opened at $5.17 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $27.82 billion, a P/E ratio of 25.85 and a beta of 0.85. The firm’s fifty day simple moving average is $4.47 and its two-hundred day simple moving average is $4.86. Nokia has a 12 month low of $3.91 and a 12 month high of $5.48.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, analysts predict that Nokia will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. BNP Paribas Exane upgraded Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Wednesday, September 3rd. JPMorgan Chase & Co. decreased their price objective on Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, July 29th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Wednesday. Finally, BNP Paribas upgraded Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.52.

About Nokia

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.