Nokia Corporation $NOK Shares Purchased by Oak Grove Capital LLC

Key Points

• Oak Grove Capital increased its Nokia stake by 202.9% in the third quarter, purchasing 105,500 additional shares and bringing its total holdings to 157,500 shares valued at approximately $1.6 million.
• Nokia’s shares opened at $10.35, compared with a 52-week range of $5.19 to $17.45. The company recently reported quarterly EPS of $0.08, beating estimates, while revenue rose 8.4% year over year to $5.50 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $14.12; several firms recently assigned Buy ratings or raised their targets.

Oak Grove Capital LLC lifted its holdings in shares of Nokia Corporation (NYSE:NOK - Free Report) by 202.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,500 shares of the technology company's stock after purchasing an additional 105,500 shares during the quarter. Oak Grove Capital LLC's holdings in Nokia were worth $1,597,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. J2 Capital Management Inc raised its holdings in Nokia by 2.0% in the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company's stock valued at $548,000 after acquiring an additional 1,319 shares in the last quarter. Syon Capital LLC increased its position in shares of Nokia by 12.7% in the 2nd quarter. Syon Capital LLC now owns 11,730 shares of the technology company's stock valued at $156,000 after purchasing an additional 1,321 shares during the last quarter. Kathmere Capital Management LLC increased its position in shares of Nokia by 14.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock valued at $97,000 after purchasing an additional 1,483 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Nokia by 12.1% in the 1st quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock valued at $118,000 after purchasing an additional 1,591 shares in the last quarter. Finally, Burford Brothers Inc. lifted its position in shares of Nokia by 9.2% during the 2nd quarter. Burford Brothers Inc. now owns 21,950 shares of the technology company's stock worth $291,000 after purchasing an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Nokia Price Performance

Shares of NYSE:NOK opened at $10.35 on Friday. Nokia Corporation has a one year low of $5.19 and a one year high of $17.45. The stock has a market capitalization of $59.43 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 1.21 and a beta of 1.19. The company has a 50-day simple moving average of $10.24 and a 200-day simple moving average of $11.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50.

Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. On average, analysts predict that Nokia Corporation will post 0.39 EPS for the current year.

Analyst Ratings Changes

NOK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on Nokia from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nokia in a report on Friday, September 4th. B. Riley Financial assumed coverage on Nokia in a research report on Thursday, September 17th. They set a "buy" rating and a $15.00 target price on the stock. Danske upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. Finally, Rosenblatt Securities started coverage on Nokia in a report on Tuesday, September 15th. They issued a "buy" rating and a $15.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Nokia currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.12.

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that develops and supplies communications networking equipment, software and related services. Its offerings support mobile and fixed broadband networks, including radio access networks, core networks, fiber and other fixed-access technologies, IP routing, optical networking, private wireless systems, cloud networking and network automation.

The company serves telecommunications operators, governments, enterprises and other organizations worldwide.

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