Kingstone Capital Partners Texas LLC Makes New Investment in Nokia Corporation $NOK

Key Points

• Kingstone Capital Partners Texas LLC has invested $14.26 million in Nokia Corporation, acquiring approximately 2.75 million shares during the second quarter.
• Nokia's stock opened at $4.75 and has seen a 52-week range between $3.91 and $5.48, currently having a market cap of $25.56 billion.
• Despite a revenue increase, Nokia reported an earnings miss with $0.05 EPS, below the consensus estimate of $0.07, indicating potential challenges ahead.

Kingstone Capital Partners Texas LLC purchased a new position in Nokia Corporation (NYSE:NOK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,752,800 shares of the technology company's stock, valued at approximately $14,260,000. Kingstone Capital Partners Texas LLC owned about 0.05% of Nokia at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Harbour Investments Inc. increased its position in shares of Nokia by 7,046.5% during the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock valued at $27,000 after purchasing an additional 5,003 shares during the period. Wealthquest Corp purchased a new position in shares of Nokia during the first quarter valued at $27,000. Farther Finance Advisors LLC grew its holdings in shares of Nokia by 58.4% during the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock valued at $38,000 after buying an additional 2,651 shares in the last quarter. Assetmark Inc. boosted its position in Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock valued at $43,000 after purchasing an additional 7,286 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in Nokia during the first quarter valued at $51,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on NOK. JPMorgan Chase & Co. decreased their price target on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. BNP Paribas Exane upgraded Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price target on the stock in a research report on Wednesday, September 3rd. Finally, BNP Paribas raised Nokia from a "hold" rating to an "outperform" rating and set a $5.00 price target on the stock in a research note on Wednesday, September 3rd. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $5.52.

Nokia Trading Up 1.4%

Shares of NOK stock traded up $0.07 during mid-day trading on Tuesday, reaching $4.84. The stock had a trading volume of 30,838,346 shares, compared to its average volume of 20,752,930. The stock's 50-day moving average price is $4.39 and its two-hundred day moving average price is $4.89. Nokia Corporation has a 52-week low of $3.91 and a 52-week high of $5.48. The firm has a market capitalization of $26.02 billion, a PE ratio of 24.18 and a beta of 0.90. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12.

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

About Nokia

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.