OLD Mission Capital LLC Takes Position 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) in the first quarter, according to its most recent 13F 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.

A number of other institutional investors have also recently bought and sold shares of the business. Alyeska Investment Group L.P. acquired a new stake in Nokia during the 4th quarter worth about $53,481,000. Woodline Partners LP boosted its position in Nokia by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock worth $53,162,000 after acquiring an additional 6,677,017 shares during the period. Deutsche Bank AG boosted its position in Nokia by 129.4% during the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company's stock worth $45,179,000 after acquiring an additional 4,835,005 shares during the period. Dimensional Fund Advisors LP boosted its position in Nokia by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,384,925 shares of the technology company's stock worth $37,145,000 after acquiring an additional 57,615 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Nokia by 6.2% during the 1st quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company's stock valued at $20,573,000 after buying an additional 228,030 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Price Performance

NOK stock traded up $0.18 during trading on Thursday, hitting $4.56. The company had a trading volume of 27,271,657 shares, compared to its average volume of 19,898,348. The company has a fifty day moving average price of $4.52 and a two-hundred day moving average price of $4.93. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a market cap of $24.51 billion, a P/E ratio of 22.78 and a beta of 0.90. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $5.48.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. Nokia's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. Equities research analysts expect that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on NOK. BNP Paribas Exane raised Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Nokia from $6.50 to $6.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, BNP Paribas raised Nokia to an "outperform" rating and set a $5.00 price target on the stock in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Nokia has an average rating of "Moderate Buy" and an average target price of $5.52.

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.