Nokia (NYSE:NOK) Sees Strong Trading Volume – Here’s What Happened

Nokia Corporation (NYSE:NOKGet Free Report) shares saw an uptick in trading volume on Monday . 58,829,543 shares traded hands during trading, an increase of 54% from the previous session’s volume of 38,256,133 shares.The stock last traded at $7.9750 and had previously closed at $7.72.

Nokia News Roundup

Here are the key news stories impacting Nokia this week:

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NOK shares. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Danske cut shares of Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Citigroup restated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Finally, New Street Research set a $6.57 price target on Nokia in a report on Thursday, November 20th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.01.

Check Out Our Latest Research Report on Nokia

Nokia Stock Performance

The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The stock has a market cap of $47.38 billion, a P/E ratio of 63.48, a price-to-earnings-growth ratio of 2.82 and a beta of 0.79. The firm’s 50-day moving average is $6.83 and its two-hundred day moving average is $5.99.

Institutional Trading of Nokia

Large investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership raised its stake in shares of Nokia by 1.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock valued at $560,150,000 after acquiring an additional 1,957,524 shares in the last quarter. Pzena Investment Management LLC lifted its position in Nokia by 14.5% during the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after acquiring an additional 11,612,590 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Nokia by 9.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after acquiring an additional 3,896,363 shares during the period. Alyeska Investment Group L.P. increased its stake in shares of 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 worth $113,161,000 after purchasing an additional 11,035,002 shares during the period. Finally, Folketrygdfondet boosted its stake in Nokia by 66.6% during the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after purchasing an additional 6,950,487 shares during the period. Institutional investors own 5.28% of the company’s stock.

Nokia Company Profile

(Get Free Report)

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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