Nokia Corporation (NYSE:NOK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Nokia Corporation (NYSE:NOKGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.0140.

Several brokerages have issued reports on NOK. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Danske downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Citigroup restated a “sell” rating on shares of Nokia in a research report on Friday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. Finally, Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a report on Sunday, November 30th.

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Nokia Stock Performance

Shares of NOK opened at $7.72 on Monday. Nokia has a 12 month low of $4.00 and a 12 month high of $8.19. The firm has a market cap of $44.30 billion, a price-to-earnings ratio of 59.35, a price-to-earnings-growth ratio of 2.82 and a beta of 0.79. The company’s fifty day moving average is $6.83 and its 200-day moving average is $5.99. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Nokia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Analog Century Management LP acquired a new stake in shares of Nokia in the 4th quarter valued at about $104,244,000. Arrowstreet Capital Limited Partnership lifted its stake in Nokia by 50.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after acquiring an additional 12,619,099 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after purchasing an additional 11,667,677 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in Nokia by 171.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

About Nokia

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Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.

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