Nokia (NYSE:NOK) Reaches New 52-Week High - Still a Buy?

Key Points

• Nokia shares hit a new 52-week high, trading as high as $8.66 and last at $8.4550 on heavy volume (~26.45 million shares).
• Analysts remain generally positive—eight Buys, five Holds and one Sell—giving an average rating of Moderate Buy and an average target of $7.01, while several firms (including Morgan Stanley and JPMorgan) have lifted targets to about $8.00.
• Key metrics: market cap ~$47.4B, P/E 63.50, 50‑day/200‑day moving averages $7.09/$6.20, and reported institutional ownership of roughly 5.3%.

Nokia Corporation (NYSE:NOK - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $8.66 and last traded at $8.4550, with a volume of 26449770 shares changing hands. The stock had previously closed at $8.14.

Analysts Set New Price Targets

A number of brokerages have commented on NOK. Danske lowered Nokia from a "buy" rating to a "hold" rating in a report on Tuesday, February 24th. Kepler Capital Markets raised Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, January 7th. Santander raised Nokia from a "neutral" rating to an "outperform" rating in a report on Monday, February 2nd. Morgan Stanley initiated coverage on Nokia in a research report on Monday, February 9th. They set an "overweight" rating and a $8.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on Nokia from $7.10 to $8.00 and gave the stock an "overweight" rating in a research report on Monday, December 1st. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $7.01.

Nokia Price Performance

The business's 50 day moving average is $7.09 and its 200-day moving average is $6.20. The firm has a market capitalization of $47.40 billion, a P/E ratio of 63.50, a PEG ratio of 2.88 and a beta of 0.80. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Nokia

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its position in Nokia by 6.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company's stock worth $145,000 after purchasing an additional 1,450 shares in the last quarter. Xponance LLC boosted its position in Nokia by 13.0% in the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company's stock valued at $88,000 after buying an additional 1,567 shares in the last quarter. Allworth Financial LP grew its stake in shares of Nokia by 7.1% during the third quarter. Allworth Financial LP now owns 24,344 shares of the technology company's stock worth $117,000 after buying an additional 1,609 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Nokia by 5.7% during the fourth quarter. Truist Financial Corp now owns 30,394 shares of the technology company's stock worth $197,000 after buying an additional 1,645 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Nokia by 16.7% in the 3rd quarter. Xponance Inc. now owns 12,023 shares of the technology company's stock valued at $58,000 after acquiring an additional 1,717 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.