Nokia Sees Unusually High Options Volume (NYSE:NOK)

Nokia Corporation (NYSE:NOK) saw unusually large options trading activity on Tuesday. Stock investors bought 92,784 call options on the company. This is an increase of 68% compared to the average volume of 55,357 call options.

Nokia Price Performance

NOK opened at $7.81 on Wednesday. The stock’s 50-day moving average price is $7.03 and its 200 day moving average price is $6.18. Nokia has a 12-month low of $4.00 and a 12-month high of $8.37. The firm has a market cap of $44.84 billion, a price-to-earnings ratio of 60.07, a PEG ratio of 2.88 and a beta of 0.80. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its position in shares of Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after acquiring an additional 2,721 shares during the period. Wexford Capital LP purchased a new position in Nokia in the third quarter valued at $29,000. FNY Investment Advisers LLC grew its stake in Nokia by 33,457.1% during the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after purchasing an additional 4,684 shares in the last quarter. Dorato Capital Management purchased a new stake in Nokia during the 4th quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nokia in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Wall Street Analyst Weigh In

NOK has been the subject of several analyst reports. Argus raised shares of Nokia to a “hold” rating in a research note on Wednesday, February 11th. Morgan Stanley assumed coverage on Nokia in a report on Monday, February 9th. They issued an “overweight” rating and a $8.00 price objective on the stock. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Citigroup reissued a “sell” rating on shares of Nokia in a research note on Friday, January 23rd. Finally, Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.01.

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.