Nokia (NYSE:NOK) Sees Unusually-High Trading Volume - What's Next?

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) saw strong trading volume on Tuesday . 48,837,111 shares were traded during trading, an increase of 161% from the previous session's volume of 18,731,914 shares.The stock last traded at $4.61 and had previously closed at $4.75.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Trading Down 5.8%

The firm has a market cap of $24.08 billion, a P/E ratio of 29.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.36 and a quick ratio of 1.15. The stock has a 50 day moving average of $5.19 and a 200 day moving average of $5.02.

Nokia (NYSE:NOK - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia had a return on equity of 8.73% and a net margin of 4.09%. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.0336 per share. This represents a $0.13 annualized dividend and a dividend yield of 3.01%. This is a boost from Nokia's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, May 5th. Nokia's dividend payout ratio is currently 80.00%.

Institutional Trading of Nokia

Several hedge funds have recently made changes to their positions in the business. ICONIQ Capital LLC increased its position in shares of Nokia by 5.7% during the first quarter. ICONIQ Capital LLC now owns 40,797 shares of the technology company's stock worth $215,000 after acquiring an additional 2,205 shares during the period. Allworth Financial LP increased its position in shares of Nokia by 16.0% during the first quarter. Allworth Financial LP now owns 16,308 shares of the technology company's stock worth $79,000 after acquiring an additional 2,248 shares during the period. Capital Investment Counsel Inc increased its position in shares of Nokia by 11.0% during the first quarter. Capital Investment Counsel Inc now owns 24,247 shares of the technology company's stock worth $128,000 after acquiring an additional 2,400 shares during the period. National Bank of Canada FI increased its position in shares of Nokia by 5.0% during the first quarter. National Bank of Canada FI now owns 50,603 shares of the technology company's stock worth $266,000 after acquiring an additional 2,425 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Nokia by 11.0% during the first quarter. Parallel Advisors LLC now owns 25,781 shares of the technology company's stock valued at $136,000 after buying an additional 2,556 shares during the period. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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.

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