Nokia Oyj (NYSE:NOK) Shares Gap Up After Strong Earnings

Nokia Oyj (NYSE:NOK) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $4.44, but opened at $4.82. Nokia Oyj shares last traded at $4.78, with a volume of 11,197,429 shares traded.

The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%.

Analyst Ratings Changes

NOK has been the subject of several analyst reports. Craig Hallum raised their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lowered Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.86.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after buying an additional 3,427 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in Nokia Oyj in the third quarter valued at $44,000. JGP Wealth Management LLC acquired a new position in shares of Nokia Oyj during the 3rd quarter worth about $45,000. Foundations Investment Advisors LLC acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $45,000. Finally, PEAK6 Investments LLC bought a new position in shares of Nokia Oyj during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Price Performance

The business has a fifty day moving average of $4.42 and a two-hundred day moving average of $4.32. 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 firm has a market capitalization of $25.65 billion, a price-to-earnings ratio of 58.81, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06.

Nokia Oyj Company Profile

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.