Nokia Oyj (NYSE:NOK) Shares Gap Down – Time to Sell?

Shares of Nokia Oyj (NYSE:NOK) gapped down prior to trading on Friday . The stock had previously closed at $4.69, but opened at $4.54. Nokia Oyj shares last traded at $4.53, with a volume of 2,880,700 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOK shares. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Northland Securities reissued an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum upped their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nokia Oyj presently has an average rating of “Moderate Buy” and an average target price of $5.86.

Nokia Oyj Price Performance

The firm has a market cap of $24.56 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The company’s fifty day moving average is $4.41 and its two-hundred day moving average is $4.30.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after purchasing an additional 3,427 shares during the period. Pinnacle Associates Ltd. purchased a new position in Nokia Oyj in the 3rd quarter valued at about $44,000. JGP Wealth Management LLC acquired a new stake in shares of Nokia Oyj during the third quarter valued at about $45,000. Foundations Investment Advisors LLC purchased a new stake in shares of Nokia Oyj during the fourth quarter worth about $45,000. Finally, PEAK6 Investments LLC acquired a new position in shares of Nokia Oyj in the third quarter worth about $45,000. Hedge funds and other 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.