Aquatic Capital Management LLC Lowers Holdings in Nokia Corporation $NOK

Aquatic Capital Management LLC trimmed its position in shares of Nokia Corporation (NYSE:NOK) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,960,616 shares of the technology company’s stock after selling 284,888 shares during the quarter. Aquatic Capital Management LLC’s holdings in Nokia were worth $9,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Polar Asset Management Partners Inc. bought a new position in shares of Nokia in the third quarter worth approximately $11,910,000. Raymond James Financial Inc. grew its holdings in shares of Nokia by 106.1% during the third quarter. Raymond James Financial Inc. now owns 1,701,548 shares of the technology company’s stock valued at $8,184,000 after buying an additional 875,815 shares during the last quarter. Scotia Capital Inc. increased its position in shares of Nokia by 23.0% during the third quarter. Scotia Capital Inc. now owns 63,855 shares of the technology company’s stock valued at $307,000 after acquiring an additional 11,921 shares in the last quarter. Brooklyn Investment Group raised its holdings in Nokia by 58.8% in the 3rd quarter. Brooklyn Investment Group now owns 63,311 shares of the technology company’s stock worth $305,000 after acquiring an additional 23,439 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Nokia by 586.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,590,354 shares of the technology company’s stock worth $17,270,000 after acquiring an additional 3,067,472 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Arete Research downgraded Nokia from a “buy” rating to a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a report on Monday, December 1st. Danske cut Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Kepler Capital Markets upgraded Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research report on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nokia has a consensus rating of “Moderate Buy” and an average target price of $7.01.

Nokia Price Performance

NYSE NOK opened at $8.24 on Monday. The stock has a market capitalization of $47.29 billion, a price-to-earnings ratio of 63.36, a PEG ratio of 3.01 and a beta of 0.79. Nokia Corporation has a 1-year low of $4.00 and a 1-year high of $8.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. The business’s fifty day moving average price is $7.13 and its 200-day moving average price is $6.26.

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.