Entropy Technologies LP Invests $1.44 Million in Nokia Corporation $NOK

Key Points

• Entropy Technologies LP acquired 179,143 Nokia shares worth approximately $1.44 million during the first quarter. Institutional investors and hedge funds collectively own 5.28% of Nokia.
• Analyst sentiment is broadly positive, with 13 Buy, three Hold, and two Sell ratings; Nokia has an overall “Moderate Buy” consensus and an average price target of $12.57.
• Nokia reported quarterly EPS of $0.08, topping expectations by $0.01, while revenue rose 8.4% year over year to $5.50 billion but came in below analyst estimates.

Entropy Technologies LP bought a new position in shares of Nokia Corporation (NYSE:NOK - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 179,143 shares of the technology company's stock, valued at approximately $1,440,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Nokia by 248.7% during the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company's stock worth $25,000 after purchasing an additional 2,721 shares in the last quarter. Wexford Capital LP acquired a new stake in Nokia in the 3rd quarter worth about $29,000. FNY Investment Advisers LLC grew its holdings in Nokia by 33,457.1% in the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company's stock valued at $30,000 after purchasing an additional 4,684 shares during the period. Dorato Capital Management purchased a new stake in shares of Nokia during the 4th quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nokia during the third quarter worth about $34,000. Institutional investors and hedge funds own 5.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NOK shares. Weiss Ratings reissued a "hold (c)" rating on shares of Nokia in a research report on Tuesday, June 9th. Northland Securities set a $20.00 price target on shares of Nokia in a research note on Wednesday, June 3rd. Bank of America raised Nokia from a "neutral" rating to a "buy" rating and set a $12.40 target price on the stock in a research report on Monday, April 13th. Barclays reaffirmed an "underweight" rating on shares of Nokia in a research report on Wednesday, April 29th. Finally, Morgan Stanley restated an "overweight" rating on shares of Nokia in a research note on Friday, May 22nd. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.57.

Nokia Trading Up 1.7%

Shares of NYSE:NOK opened at $9.25 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09. The company's 50-day moving average price is $13.28 and its 200 day moving average price is $10.31. The company has a market cap of $53.12 billion, a PE ratio of 66.08, a P/E/G ratio of 1.04 and a beta of 1.17. Nokia Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $17.45.

Nokia (NYSE:NOK - Get Free Report) last posted its earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion for the quarter, compared to analysts' expectations of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The firm's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. Sell-side analysts anticipate that Nokia Corporation will post 0.41 earnings per share for the current year.

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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