Nokia (NYSE:NOK) Upgraded at Argus

Argus upgraded shares of Nokia (NYSE:NOK) to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also issued reports on the company. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Citigroup reiterated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Morgan Stanley initiated coverage on Nokia in a report on Monday, February 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.01.

Nokia Trading Up 0.9%

NOK stock opened at $7.04 on Wednesday. Nokia has a 12 month low of $4.00 and a 12 month high of $8.19. The firm’s 50-day moving average is $6.59 and its 200 day moving average is $5.73. The company has a market capitalization of $40.40 billion, a PE ratio of 54.12, a P/E/G ratio of 2.54 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36.

Institutional Investors Weigh In On Nokia

Institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in Nokia by 6.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock worth $145,000 after purchasing an additional 1,450 shares during the period. Xponance LLC increased its holdings in Nokia by 13.0% in the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,567 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Nokia by 7.1% in the third quarter. Allworth Financial LP now owns 24,344 shares of the technology company’s stock worth $117,000 after acquiring an additional 1,609 shares during the period. Truist Financial Corp grew its holdings in Nokia by 5.7% during the 4th quarter. Truist Financial Corp now owns 30,394 shares of the technology company’s stock valued at $197,000 after buying an additional 1,645 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Nokia by 16.7% during the third quarter. Xponance Inc. now owns 12,023 shares of the technology company’s stock worth $58,000 after acquiring an additional 1,717 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

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.