Nokia Oyj Sees Unusually High Options Volume (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the target of unusually large options trading activity on Tuesday. Stock traders bought 24,464 put options on the company. This is an increase of approximately 208% compared to the typical volume of 7,945 put options.

Nokia Oyj Stock Down 0.8 %

Shares of NYSE:NOK opened at $4.18 on Wednesday. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.95. The stock has a market cap of $22.76 billion, a P/E ratio of 52.19, a PEG ratio of 5.41 and a beta of 1.12. The business has a fifty day moving average of $4.47 and a two-hundred day moving average of $4.12. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. On average, research analysts expect that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Trading of Nokia Oyj

Several hedge funds have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its position in Nokia Oyj by 111.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 26,738 shares of the technology company’s stock worth $95,000 after acquiring an additional 14,122 shares during the period. CreativeOne Wealth LLC grew its holdings in shares of 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 during the period. Advisors Asset Management Inc. increased its position in shares of Nokia Oyj by 35.6% during the 1st quarter. Advisors Asset Management Inc. now owns 158,795 shares of the technology company’s stock worth $562,000 after purchasing an additional 41,691 shares during the last quarter. SVB Wealth LLC purchased a new stake in Nokia Oyj in the 1st quarter valued at about $57,000. Finally, Tidal Investments LLC lifted its position in Nokia Oyj by 111.0% in the first quarter. Tidal Investments LLC now owns 39,635 shares of the technology company’s stock valued at $140,000 after buying an additional 20,849 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Ratings Changes

NOK has been the subject of a number of research analyst reports. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities reiterated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nokia Oyj presently has a consensus rating of “Hold” and an average target price of $4.56.

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.