Nokia (NYSE:NOK) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Nokia (NYSE:NOK) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $8.00 price objective on the technology company’s stock.

NOK has been the subject of a number of other reports. Santander upgraded shares of Nokia from a “neutral” rating to an “outperform” rating in a research note on Monday, February 2nd. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. New Street Research set a $6.57 target price on Nokia in a research report on Thursday, November 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of Nokia in a research report on Thursday, October 23rd. Finally, Jefferies Financial Group raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.01.

Nokia Stock Performance

Shares of NYSE NOK opened at $7.18 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $6.51 and its 200-day moving average price is $5.67. Nokia has a 52-week low of $4.00 and a 52-week high of $8.19. The company has a market cap of $41.23 billion, a PE ratio of 55.24, a PEG ratio of 2.45 and a beta of 0.81.

Institutional Investors Weigh In On Nokia

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi bought a new position in shares of Nokia in the first quarter worth approximately $776,000. AQR Capital Management LLC lifted its stake in shares of Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock valued at $985,000 after buying an additional 40,276 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Nokia by 6,539.2% during the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after buying an additional 2,798,758 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Nokia by 6,204.9% in the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock worth $319,000 after buying an additional 59,505 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after buying an additional 1,002,033 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.