Nokia Target of Unusually High Options Trading (NYSE:NOK)

Nokia Corporation (NYSE:NOK) saw unusually large options trading activity on Wednesday. Stock investors purchased 65,521 call options on the stock. This represents an increase of 262% compared to the average volume of 18,084 call options.

Nokia Stock Down 0.8%

NOK stock opened at $5.54 on Thursday. Nokia has a 52 week low of $3.91 and a 52 week high of $5.79. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $29.78 billion, a PE ratio of 27.68 and a beta of 0.85. The firm has a 50 day moving average of $4.75 and a 200 day moving average of $4.88.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Nokia had a return on equity of 8.36% and a net margin of 5.30%.The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts forecast that Nokia will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Nokia

Institutional investors have recently bought and sold shares of the business. Wealthquest Corp purchased a new position in Nokia during the 1st quarter worth approximately $27,000. Harbour Investments Inc. raised its position in 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 buying an additional 5,003 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Nokia during the 2nd quarter worth approximately $34,000. Farther Finance Advisors LLC raised its position in 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 buying an additional 2,651 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Nokia by 763.7% during the 1st 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 in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BNP Paribas Exane upgraded shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 target price on the stock in a report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday, July 29th. BNP Paribas upgraded shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $5.32.

Nokia 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.