Nokia Oyj (NYSE:NOK) Upgraded to “Buy” at Danske

Danske upgraded shares of Nokia Oyj (NYSE:NOK) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Marketbeat.com reports.

Several other brokerages have also recently commented on NOK. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th. Northland Securities restated an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Nokia Oyj has an average rating of “Hold” and a consensus target price of $4.56.

Nokia Oyj Trading Up 0.6 %

NYSE:NOK opened at $4.78 on Friday. The stock has a fifty day simple moving average of $4.30 and a 200 day simple moving average of $3.95. The firm has a market capitalization of $26.40 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.82. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOK. GAMMA Investing LLC boosted its stake in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares during the period. Banque Cantonale Vaudoise raised its holdings 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Nokia Oyj during the first quarter valued at $35,000. JGP Wealth Management LLC purchased a new position in Nokia Oyj in the third quarter valued at about $45,000. Finally, Simplicity Wealth LLC acquired a new position in Nokia Oyj in the 2nd quarter worth about $39,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.