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 bought a new position in shares of Nokia Corporation (NYSE:NOK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 reporting period.

A number of other hedge funds have also made changes to their positions in NOK. Goldman Sachs Group Inc. grew its holdings in Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock valued at $66,140,000 after purchasing an additional 1,002,033 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Nokia in the 1st quarter valued at $45,207,000. Deutsche Bank AG raised its holdings in Nokia by 129.4% in 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. Northern Trust Corp boosted its holdings in Nokia by 6.2% during the first quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company's stock valued at $20,573,000 after acquiring an additional 228,030 shares during the period. Finally, Penserra Capital Management LLC increased its stake in shares of Nokia by 41.0% in the first quarter. Penserra Capital Management LLC now owns 3,707,857 shares of the technology company's stock worth $19,540,000 after purchasing an additional 1,078,476 shares during the period. Institutional investors and hedge funds own 5.28% of the company's stock.

Wall Street Analysts Forecast Growth

NOK has been the topic of a number of research analyst reports. BNP Paribas raised Nokia from a "hold" rating to an "outperform" rating and set a $5.00 target price on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Finally, BNP Paribas Exane upgraded shares of Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 target price for the company in a research note on Wednesday, September 3rd. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.52.

Nokia Price Performance

Shares of Nokia stock traded up $0.03 during midday trading on Monday, hitting $4.77. 36,349,394 shares of the company were exchanged, compared to its average volume of 20,709,486. The firm has a 50 day simple moving average of $4.39 and a 200-day simple moving average of $4.90. Nokia Corporation has a 52 week low of $3.91 and a 52 week high of $5.48. The firm has a market cap of $25.64 billion, a P/E ratio of 23.83 and a beta of 0.90. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21.

Nokia (NYSE:NOK - Get Free Report) last issued its 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 firm 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%. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS. Research analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Company 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.