Nokia Oyj’s (NOK) Outperform Rating Reaffirmed at Northland Securities

Northland Securities reissued their outperform rating on shares of Nokia Oyj (NYSE:NOK) in a research report sent to investors on Wednesday morning, Benzinga reports. Northland Securities currently has a $6.50 price objective on the technology company’s stock, up from their previous price objective of $6.00.

Separately, StockNews.com raised shares of Nokia Oyj from a buy rating to a strong-buy rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $4.54.

Nokia Oyj Stock Down 2.1 %

NOK opened at $4.24 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.52. The company has a market cap of $23.42 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 5.46 and a beta of 1.12. The company has a 50-day moving average price of $3.98 and a 200 day moving average price of $3.77.

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

Institutional Trading of Nokia Oyj

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Nokia Oyj in the second quarter valued at about $206,000. Truist Financial Corp increased its holdings in shares of Nokia Oyj by 15.7% during the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after buying an additional 2,710 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Nokia Oyj by 31.8% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 15,209 shares of the technology company’s stock valued at $57,000 after buying an additional 3,669 shares during the period. Creative Planning lifted its holdings in Nokia Oyj by 11.3% in the second quarter. Creative Planning now owns 333,066 shares of the technology company’s stock valued at $1,259,000 after acquiring an additional 33,745 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new position in Nokia Oyj in the second quarter worth approximately $1,240,000. 5.28% of the stock is owned by institutional investors and hedge funds.

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.