Jefferies Financial Group Inc. Takes Position in Nokia Corporation $NOK

Key Points

• Jefferies Financial Group initiated a new position in Nokia in Q3, acquiring 955,400 shares valued at approximately $4.595 million.
• Analyst sentiment is a "Moderate Buy" with a consensus price target of $7.01, and several firms (including Morgan Stanley and JPMorgan) have set targets near $8.00.
• Nokia opened at $7.89 (52‑week range $4.00–$8.37) with a market cap of ~$45.3 billion, and institutional/hedge funds own about 5.28% of the stock.

Jefferies Financial Group Inc. acquired a new stake in Nokia Corporation (NYSE:NOK - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 955,400 shares of the technology company's stock, valued at approximately $4,595,000.

Several other hedge funds have also recently bought and sold shares of the company. Xponance Inc. grew its position in Nokia by 16.7% in the 3rd quarter. Xponance Inc. now owns 12,023 shares of the technology company's stock valued at $58,000 after acquiring an additional 1,717 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Nokia by 7.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 26,022 shares of the technology company's stock worth $125,000 after purchasing an additional 1,848 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Nokia by 5.0% in the third quarter. Evergreen Capital Management LLC now owns 44,984 shares of the technology company's stock valued at $216,000 after purchasing an additional 2,152 shares during the period. Assetmark Inc. boosted its stake in shares of Nokia by 28.3% in the third quarter. Assetmark Inc. now owns 12,362 shares of the technology company's stock valued at $59,000 after purchasing an additional 2,727 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Nokia by 4.6% in the second quarter. M&T Bank Corp now owns 66,591 shares of the technology company's stock valued at $345,000 after purchasing an additional 2,930 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Analysts Set New Price Targets

NOK has been the topic of a number of research reports. New Street Research set a $6.57 target price on shares of Nokia in a report on Thursday, November 20th. Morgan Stanley initiated coverage on shares of Nokia in a research note on Monday, February 9th. They issued an "overweight" rating and a $8.00 price target for the company. Argus raised Nokia to a "hold" rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. increased their price objective on Nokia from $7.10 to $8.00 and gave the company an "overweight" rating in a research note on Monday, December 1st. Finally, Santander upgraded Nokia from a "neutral" rating to an "outperform" rating in a report on Monday, February 2nd. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.01.

Nokia Stock Up 1.9%

Shares of NYSE:NOK opened at $7.89 on Tuesday. Nokia Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $8.37. The firm's 50 day moving average price is $7.00 and its 200 day moving average price is $6.15. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The stock has a market cap of $45.28 billion, a price-to-earnings ratio of 60.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.79.

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.

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