Nokia (NYSE:NOK) Shares Gap Down - Time to Sell?

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $5.17, but opened at $5.05. Nokia shares last traded at $5.11, with a volume of 2,113,464 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $5.85.

Nokia Trading Up 0.3%

The business has a 50 day simple moving average of $5.20 and a 200-day simple moving average of $4.96. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $28.22 billion, a price-to-earnings ratio of 34.50 and a beta of 0.93.

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

Nokia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.0336 dividend. This represents a $0.13 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Monday, May 5th. This is an increase from Nokia's previous quarterly dividend of $0.02. Nokia's payout ratio is currently 80.00%.

Institutional Investors Weigh In On Nokia

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealthquest Corp bought a new stake in shares of Nokia during the 1st quarter worth about $27,000. Harbour Investments Inc. increased its holdings in Nokia by 7,046.5% during the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock valued at $27,000 after purchasing an additional 5,003 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Nokia by 58.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock valued at $38,000 after purchasing an additional 2,651 shares in the last quarter. Assetmark Inc. boosted its position in Nokia by 763.7% in the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock valued at $43,000 after buying an additional 7,286 shares during the last quarter. Finally, Formidable Asset Management LLC bought a new position in Nokia in the 4th quarter valued at $49,000. 5.28% of the stock is owned by institutional investors and hedge funds.

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.