Nokia Oyj (NYSE:NOK – Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 12,317,475 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 14,534,167 shares.The stock last traded at $4.22 and had previously closed at $4.20.
Analysts Set New Price Targets
A number of brokerages have weighed in on NOK. Northland Securities restated an “outperform” rating and set a $6.50 price objective (up previously from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.54.
Get Our Latest Stock Analysis on NOK
Nokia Oyj Stock Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last released its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, sell-side analysts forecast that Nokia Oyj will post 0.36 EPS for the current year.
Hedge Funds Weigh In On Nokia Oyj
A number of large investors have recently bought and sold shares of NOK. Truist Financial Corp raised its position in shares of Nokia Oyj by 15.7% during the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after purchasing an additional 2,710 shares during the period. Assetmark Inc. lifted its stake in Nokia Oyj by 8.6% in the fourth quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock valued at $120,000 after buying an additional 2,788 shares during the last quarter. First Affirmative Financial Network grew its position in shares of Nokia Oyj by 10.3% during the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after acquiring an additional 2,932 shares during the last quarter. Banque Cantonale Vaudoise grew its position in shares of Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after acquiring an additional 3,000 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Nokia Oyj by 3.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company’s stock valued at $328,000 after purchasing an additional 3,097 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.
About Nokia Oyj
Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.
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