Renaissance Technologies LLC Trims Stock Position in Nokia Oyj (NYSE:NOK)

Renaissance Technologies LLC decreased its holdings in shares of Nokia Oyj (NYSE:NOK) by 29.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,582,980 shares of the technology company’s stock after selling 1,077,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Nokia Oyj were worth $9,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOK. Banque Cantonale Vaudoise grew its holdings in shares of Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Nokia Oyj during the first quarter worth about $35,000. Checchi Capital Advisers LLC acquired a new stake in shares of Nokia Oyj during the first quarter valued at about $35,000. Peapack Gladstone Financial Corp purchased a new stake in shares of Nokia Oyj in the 4th quarter valued at approximately $35,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Nokia Oyj in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 19th. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.54.

Nokia Oyj Trading Up 0.5 %

NOK opened at $4.30 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The stock has a market capitalization of $23.75 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 5.13 and a beta of 1.12. The business has a fifty day moving average price of $4.05 and a 200 day moving average price of $3.83. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.52.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. Sell-side analysts expect that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

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.