Nokia (NYSE:NOK) Upgraded to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Nokia (NYSE:NOK) from a sell rating to a neutral rating in a research note published on Monday, MarketBeat Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Citigroup reiterated a “sell” rating on shares of Nokia in a research report on Friday, January 23rd. Danske lowered Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Finally, Argus raised Nokia to a “hold” rating in a research note on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.01.

Nokia Trading Down 0.4%

Shares of Nokia stock opened at $7.95 on Monday. The company has a 50-day moving average of $7.50 and a two-hundred day moving average of $6.55. Nokia has a 12-month low of $4.00 and a 12-month high of $8.82. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock has a market cap of $45.62 billion, a PE ratio of 61.12, a price-to-earnings-growth ratio of 2.76 and a beta of 0.79.

Hedge Funds Weigh In On Nokia

Several institutional investors have recently added to or reduced their stakes in NOK. Analog Century Management LP purchased a new position in Nokia during the fourth quarter worth about $104,244,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Nokia by 50.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after acquiring an additional 14,482,665 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after acquiring an additional 12,619,099 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Nokia by 17.0% during the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after acquiring an additional 11,667,677 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in shares of Nokia by 171.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after acquiring an additional 11,035,002 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

About Nokia

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.