Nokia (NYSE:NOK) Shares Gap Down - Should You Sell?

Key Points

• Nokia shares opened lower on Friday, gapping down from $12.90 to $12.48 and trading around $12.49, with the stock down about 4% on the session.
• Despite the pullback, Wall Street sentiment is mostly positive: 13 analysts rate Nokia a Buy, with a consensus rating of Moderate Buy and an average target price of $12.57.
• Nokia’s latest earnings showed $0.06 EPS on $5.21 billion in revenue, while analysts currently expect the company to earn about $0.40 per share for the full fiscal year.

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $12.90, but opened at $12.48. Nokia shares last traded at $12.4850, with a volume of 10,113,826 shares.

Analyst Upgrades and Downgrades

NOK has been the topic of a number of research reports. Danske raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. Barclays reissued an "underweight" rating on shares of Nokia in a report on Wednesday, April 29th. Northland Securities set a $20.00 target price on Nokia in a research note on Wednesday, June 3rd. Bank of America raised shares of Nokia from a "neutral" rating to a "buy" rating and set a $12.40 price target on the stock in a research note on Monday, April 13th. Finally, Argus upgraded Nokia from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Monday, April 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.57.

Nokia Trading Down 4.0%

The stock has a market capitalization of $71.12 billion, a PE ratio of 77.47, a PEG ratio of 1.70 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11. The business's 50-day moving average is $13.97 and its two-hundred day moving average is $9.97.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $5.21 billion for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. On average, analysts anticipate that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC increased its stake in shares of Nokia by 14.9% during the second quarter. Valeo Financial Advisors LLC now owns 21,184 shares of the technology company's stock worth $281,000 after acquiring an additional 2,748 shares during the period. FNY Investment Advisers LLC purchased a new position in Nokia in the 2nd quarter valued at approximately $436,000. Foster Group Inc. acquired a new position in shares of Nokia during the 2nd quarter worth $138,000. GAMMA Investing LLC lifted its holdings in shares of Nokia by 16.6% in the second quarter. GAMMA Investing LLC now owns 26,390 shares of the technology company's stock valued at $350,000 after purchasing an additional 3,751 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Nokia in the 2nd quarter valued at approximately $720,000. 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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