Nokia Sees Unusually High Options Volume (NYSE:NOK)

Nokia Corporation (NYSE:NOK) was the recipient of some unusual options trading activity on Thursday. Investors bought 29,627 call options on the company. Thisrepresentsanincreaseofapproximately399% compared to the average volume of 5,939 call options.

Hedge Funds Weigh In On Nokia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealthquest Corp purchased a new position in shares of Nokia in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. raised its position in shares of Nokia by 7,046.5% in the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock valued at $27,000 after purchasing an additional 5,003 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Nokia in the 2nd quarter valued at approximately $34,000. Farther Finance Advisors LLC raised its position in Nokia by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock worth $38,000 after buying an additional 2,651 shares during the last quarter. Finally, Assetmark Inc. raised its position in Nokia by 763.7% during the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after buying an additional 7,286 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOK. BNP Paribas upgraded shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research note on Wednesday. Wall Street Zen upgraded Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. BNP Paribas Exane upgraded shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.52.

Nokia Trading Down 1.0%

NOK stock opened at $4.56 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. Nokia has a twelve month low of $3.91 and a twelve month high of $5.48. The stock has a market capitalization of $24.51 billion, a price-to-earnings ratio of 22.78 and a beta of 0.90. The firm’s fifty day simple moving average is $4.49 and its two-hundred day simple moving average is $4.92.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Nokia had a return on equity of 8.36% and a net margin of 5.30%.The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that Nokia will post 0.34 earnings per share for the current year.

About Nokia

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.