South Shore Capital Advisors Takes $736,000 Position in Nokia Corporation $NOK

Key Points

• South Shore Capital Advisors initiated a new stake in Nokia in Q4, purchasing 113,711 shares worth approximately $736,000.
• Analyst sentiment is mixed with a consensus rating of "Hold" and an average target price of $7.01; notable calls include Morgan Stanley's Overweight with an $8 target and Kepler's upgrade to Buy, while Citigroup remains at Sell.
• Nokia shares opened at $8.87 (market cap ~$50.9B), trade at a PE of 68.2, and have a 12‑month range of $4.00–$9.29.

South Shore Capital Advisors acquired a new stake in shares of Nokia Corporation (NYSE:NOK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 113,711 shares of the technology company's stock, valued at approximately $736,000.

A number of other hedge funds also recently bought and sold shares of the company. Aaron Wealth Advisors LLC lifted its stake in Nokia by 22.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 59,101 shares of the technology company's stock valued at $382,000 after buying an additional 10,639 shares in the last quarter. Sowell Financial Services LLC lifted its stake in Nokia by 10.1% during the fourth quarter. Sowell Financial Services LLC now owns 21,104 shares of the technology company's stock valued at $137,000 after buying an additional 1,939 shares in the last quarter. Signaturefd LLC lifted its stake in Nokia by 8.6% during the fourth quarter. Signaturefd LLC now owns 92,537 shares of the technology company's stock valued at $599,000 after buying an additional 7,289 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in Nokia during the fourth quarter valued at about $96,000. Finally, FNY Investment Advisers LLC lifted its stake in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company's stock valued at $30,000 after buying an additional 4,684 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOK has been the subject of a number of analyst reports. Kepler Capital Markets raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, January 7th. Arete Research lowered shares of Nokia from a "buy" rating to a "neutral" rating in a research report on Friday, March 13th. Argus raised shares of Nokia to a "hold" rating in a research report on Wednesday, February 11th. Citigroup reissued a "sell" rating on shares of Nokia in a research report on Friday, January 23rd. Finally, Morgan Stanley started coverage on shares of Nokia in a research report on Monday, February 9th. They issued an "overweight" rating and a $8.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $7.01.

Nokia Price Performance

Shares of NOK opened at $8.87 on Tuesday. The firm has a market cap of $50.90 billion, a PE ratio of 68.20, a PEG ratio of 3.06 and a beta of 0.77. The firm's 50 day moving average price is $7.70 and its 200 day moving average price is $6.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. Nokia Corporation has a twelve month low of $4.00 and a twelve month high of $9.29.

Nokia 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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