Nokia Corporation (NYSE:NOK – Get Free Report)’s share price shot up 1.1% during trading on Thursday . The company traded as high as $14.16 and last traded at $13.96. Approximately 75,599,259 shares traded hands during trading, a decline of 5% from the average daily volume of 79,593,602 shares. The stock had previously closed at $13.81.
Key Nokia News
Here are the key news stories impacting Nokia this week:
- Positive Sentiment: Nokia expanded its collaboration with Google Cloud to integrate the Gemini AI platform into its network software, reinforcing its push into AI-driven telecom and data center networking. Nokia (NYSE:NOK) Taps Google Cloud Gemini To Recast Its Network Software Future
- Positive Sentiment: The company also deepened AI-network partnerships with AWS and Databricks, suggesting broader traction for its autonomous networking strategy and cloud-software roadmap. Nokia (HLSE:NOKIA) Expands AWS Google Cloud And Databricks Ties For AI Networks
- Positive Sentiment: Nokia announced it will provide intelligent connectivity for a Finnish Border Guard counter-drone initiative, which adds a defense-use-case win and highlights its secure communications capabilities. Nokia Rises 3% On Finnish Counter-Drone Consortium
- Positive Sentiment: The AWS and Databricks proof-of-concept work supports the view that Nokia is becoming an AI infrastructure play, which is helping investor sentiment. Nokia to provide intelligent connectivity for Finnish Border Guard counter-drone initiative nationwide
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on NOK. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Barclays reaffirmed an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, April 27th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.57.
Nokia Price Performance
The firm has a market cap of $80.16 billion, a PE ratio of 87.26, a price-to-earnings-growth ratio of 2.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The firm has a 50-day simple moving average of $13.47 and a 200 day simple moving average of $9.47.
Nokia (NYSE:NOK – Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. The company had revenue of $5.21 billion during the quarter. As a group, equities analysts expect that Nokia Corporation will post 0.4 EPS for the current year.
Hedge Funds Weigh In On Nokia
Several large investors have recently made changes to their positions in NOK. Pzena Investment Management LLC grew its stake in shares of Nokia by 14.5% in the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after buying an additional 11,612,590 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 buying an additional 3,896,363 shares during the last quarter. ARGA Investment Management LP boosted its holdings in Nokia by 166.4% in the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after acquiring an additional 12,734,021 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings 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 worth $113,161,000 after acquiring an additional 11,035,002 shares in the last quarter. Finally, Analog Century Management LP purchased a new stake in shares of Nokia in the fourth quarter worth $104,244,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.
About Nokia
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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