Investors Purchase Large Volume of Call Options on Nokia Oyj (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the target of some unusual options trading on Thursday. Stock investors acquired 30,735 call options on the company. This is an increase of 211% compared to the average daily volume of 9,878 call options.

Wall Street Analyst Weigh In

NOK has been the topic of several research reports. Craig Hallum increased their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group lowered Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $5.16 on Friday. The company has a market cap of $28.11 billion, a P/E ratio of 20.62, a PEG ratio of 6.43 and a beta of 1.11. The firm has a fifty day moving average price of $4.72 and a 200 day moving average price of $4.51. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 12 month low of $3.29 and a 12 month high of $5.23.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Sell-side analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds have recently added to or reduced their stakes in NOK. PEAK6 Investments LLC purchased a new stake in shares of Nokia Oyj during the 3rd quarter worth approximately $45,000. Foundations Investment Advisors LLC purchased a new stake in Nokia Oyj in the fourth quarter valued at $45,000. D.A. Davidson & CO. acquired a new position in Nokia Oyj in the fourth quarter valued at $46,000. Wedmont Private Capital purchased a new position in shares of Nokia Oyj during the fourth quarter worth about $47,000. Finally, Wealthstream Advisors Inc. acquired a new stake in shares of Nokia Oyj during the fourth quarter worth about $49,000. 5.28% of the stock is currently 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.