Nokia Oyj’s (NOK) Outperform Rating Reaffirmed at Northland Securities

Northland Securities reaffirmed their outperform rating on shares of Nokia Oyj (NYSE:NOK) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $6.50 price target on the technology company’s stock.

Separately, StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 10th. Two equities research 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 stock. According to data from MarketBeat, Nokia Oyj presently has an average rating of “Hold” and a consensus target price of $4.56.

Nokia Oyj Stock Up 0.6 %

Shares of NYSE NOK opened at $4.78 on Friday. The stock 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 52 week low of $2.94 and a 52 week high of $4.82. The firm has a 50-day moving average price of $4.30 and a 200 day moving average price of $3.95. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Maverick Capital Ltd. purchased a new position in shares of Nokia Oyj during the 2nd quarter worth approximately $1,240,000. PDS Planning Inc raised its holdings in shares of Nokia Oyj by 46.8% in the first quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock worth $120,000 after acquiring an additional 10,815 shares during the last quarter. First Affirmative Financial Network lifted its position in shares of Nokia Oyj by 10.3% in the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock valued at $111,000 after acquiring an additional 2,932 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Nokia Oyj by 98.3% during the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after acquiring an additional 867,297 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its position in Nokia Oyj by 62.3% during the 1st quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company’s stock worth $63,000 after purchasing an additional 6,768 shares in the last quarter. Institutional investors and hedge funds 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.