Traders Purchase High Volume of Call Options on Nokia Oyj (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the target of unusually large options trading activity on Thursday. Investors purchased 30,735 call options on the company. This represents an increase of 211% compared to the typical daily volume of 9,878 call options.

Nokia Oyj Stock Performance

Shares of NOK opened at $5.16 on Friday. The stock has a market capitalization of $28.11 billion, a P/E ratio of 20.62, a P/E/G ratio of 6.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $5.23. The company’s fifty day moving average is $4.72 and its two-hundred day moving average is $4.51.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 30th. 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 6.54% and a return on equity of 10.30%. On average, sell-side analysts predict that Nokia Oyj will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NOK shares. Craig Hallum upped their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a report on Thursday, January 16th. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped 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 equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.85.

Institutional Trading of Nokia Oyj

Several hedge funds have recently modified their holdings of NOK. QRG Capital Management Inc. grew its holdings in Nokia Oyj by 29.9% during the fourth quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock worth $3,060,000 after acquiring an additional 158,935 shares during the period. FMR LLC grew its stake in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares during the period. XTX Topco Ltd purchased a new position in shares of Nokia Oyj in the 3rd quarter valued at about $1,417,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Nokia Oyj by 14.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company’s stock valued at $226,000 after purchasing an additional 6,395 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its holdings in Nokia Oyj by 261.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company’s stock worth $457,000 after buying an additional 74,552 shares in the last quarter. 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.