Nokia (NYSE:NOK) Reaches New 1-Year High – Time to Buy?

Shares of Nokia Corporation (NYSE:NOK) hit a new 52-week high during trading on Wednesday . The company traded as high as $9.33 and last traded at $9.3150, with a volume of 27953672 shares. The stock had previously closed at $8.85.

Analyst Ratings Changes

A number of brokerages have commented on NOK. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a report on Monday, December 22nd. Argus upgraded shares of Nokia to a “hold” rating in a report on Wednesday, February 11th. Citigroup reissued a “sell” rating on shares of Nokia in a research report on Friday, January 23rd. Finally, Arete Research downgraded shares of Nokia from a “buy” rating to a “neutral” rating in a research report on Friday, March 13th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.01.

Nokia Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 1.36. The stock has a market capitalization of $53.57 billion, a P/E ratio of 71.88, a price-to-earnings-growth ratio of 3.06 and a beta of 0.77. The company has a fifty day moving average of $7.74 and a two-hundred day moving average of $6.72.

Institutional Trading of Nokia

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Analog Century Management LP bought a new stake in shares of Nokia during the 4th quarter valued at about $104,244,000. Arrowstreet Capital Limited Partnership grew its position in shares of Nokia by 50.0% during 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 buying an additional 14,482,665 shares during the last quarter. Thrivent Financial for Lutherans grew its position 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 valued at $60,871,000 after buying an additional 12,619,099 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Nokia by 17.0% during the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after buying an additional 11,667,677 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Nokia by 171.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after buying an additional 11,035,002 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Company Profile

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.