OLD Mission Capital LLC Makes New $4.39 Million Investment in Nokia Corporation $NOK

Key Points

• OLD Mission Capital LLC has acquired 833,296 shares of Nokia Corporation, valued at approximately $4.39 million, indicating growing institutional interest in the tech company.
• Nokia reported $0.05 EPS for the last quarter, missing analyst expectations of $0.07 EPS, but its revenue of $5.34 billion exceeded expectations, marking a 1.8% year-over-year increase.
• Wall Street analysts currently rate Nokia as a "Moderate Buy" with an average price target of $5.78, despite mixed opinions from different financial institutions.

OLD Mission Capital LLC acquired a new position in shares of Nokia Corporation (NYSE:NOK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 833,296 shares of the technology company's stock, valued at approximately $4,391,000.

Several other large investors have also recently added to or reduced their stakes in NOK. Wealthquest Corp bought a new position in Nokia during the 1st quarter worth $27,000. Harbour Investments Inc. increased its position in Nokia by 7,046.5% during the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock worth $27,000 after buying an additional 5,003 shares during the period. Farther Finance Advisors LLC increased 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 period. Assetmark Inc. increased 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 period. Finally, Formidable Asset Management LLC bought a new position in Nokia during the 4th quarter worth $49,000. Institutional investors own 5.28% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Nokia from $6.50 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.78.

Nokia Trading Up 0.1%

Shares of NOK traded up $0.01 during mid-day trading on Monday, reaching $4.30. 14,764,453 shares of the company were exchanged, compared to its average volume of 16,126,850. Nokia Corporation has a 52 week low of $3.91 and a 52 week high of $5.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. The stock has a market capitalization of $23.11 billion, a PE ratio of 21.48 and a beta of 0.90. The business has a 50 day simple moving average of $4.55 and a two-hundred day simple moving average of $4.93.

Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) 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 company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the business earned $0.06 earnings per share. Nokia's revenue was up 1.8% compared to the same quarter last year. On average, analysts predict that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Nokia Profile

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.