Nokia (NYSE:NOK) Reaches New 1-Year High - Time to Buy?

Key Points

• Nokia shares hit a new 52-week high of $9.33 on Wednesday, last trading at $9.3150 on roughly 27.95 million shares.
• Analysts are mixed: MarketBeat shows a consensus rating of Hold with an average price target of $7.01—below the current share price—while individual firms' ratings range from Sell to Overweight.
• Key fundamentals: market cap about $53.6 billion, a high trailing P/E of 71.88, 50-/200-day moving averages of $7.74/$6.72, and a low debt-to-equity ratio of 0.11.

Nokia Corporation (NYSE:NOK - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $9.33 and last traded at $9.3150, with a volume of 27953672 shares trading hands. The stock had previously closed at $8.85.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NOK shares. The Goldman Sachs Group upgraded shares of Nokia from a "sell" rating to a "neutral" rating in a report on Monday, March 30th. Danske lowered shares of Nokia from a "buy" rating to a "hold" rating in a report on Tuesday, February 24th. Morgan Stanley started coverage on shares of Nokia in a report on Monday, February 9th. They issued an "overweight" rating and a $8.00 price target on the stock. Citigroup restated a "sell" rating on shares of Nokia in a report on Friday, January 23rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Nokia in a report on Monday, December 22nd. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Nokia presently has a consensus rating of "Hold" and an average target price of $7.01.

Nokia Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The firm has a market cap of $53.57 billion, a price-to-earnings ratio of 71.88, a price-to-earnings-growth ratio of 3.06 and a beta of 0.77. The company's fifty day moving average is $7.74 and its two-hundred day moving average is $6.72.

Hedge Funds Weigh In On Nokia

Several hedge funds and other institutional investors have recently made changes to their positions in NOK. Fifth Third Bancorp lifted its holdings in Nokia by 248.7% in the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company's stock worth $25,000 after buying an additional 2,721 shares in the last quarter. Wexford Capital LP acquired a new position in Nokia in the 3rd quarter worth $29,000. FNY Investment Advisers LLC lifted its holdings in Nokia by 33,457.1% in the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company's stock worth $30,000 after buying an additional 4,684 shares in the last quarter. Dorato Capital Management acquired a new position in Nokia in the 4th quarter worth $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Nokia in the 3rd quarter worth $34,000. Institutional investors and hedge funds own 5.28% of the company's stock.

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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