Nokia (NYSE:NOK) Shares Up 7.9% - Time to Buy?

Key Points

• Nokia shares surged 7.9% to $9.075 on unusually heavy trading volume, with 106 million shares changing hands—29% above the average daily volume.
• Analyst sentiment is generally positive, with 13 Buy ratings, three Holds and two Sells. The consensus rating is “Moderate Buy,” with an average price target of $12.57; JPMorgan recently raised its target to $21.
• Nokia modestly exceeded quarterly EPS expectations at $0.08 versus $0.07, while revenue rose 8.4% year over year to $5.50 billion but fell short of the $5.57 billion consensus estimate.

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) traded up 7.9% on Thursday . The stock traded as high as $9.34 and last traded at $9.0750. 106,008,039 shares were traded during trading, an increase of 29% from the average daily volume of 82,339,492 shares. The stock had previously closed at $8.41.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOK shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Nokia in a research report on Tuesday, June 9th. Wall Street Zen lowered shares of Nokia from a "buy" rating to a "hold" rating in a research report on Sunday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Nokia in a report on Friday, May 15th. Morgan Stanley reissued an "overweight" rating on shares of Nokia in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. increased their target price on Nokia from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $12.57.

Nokia Price Performance

The stock has a market capitalization of $52.11 billion, a PE ratio of 64.82, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17. The business's 50-day moving average price is $13.08 and its 200 day moving average price is $10.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The business had revenue of $5.50 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. Research analysts forecast that Nokia Corporation will post 0.41 earnings per share for the current year.

Institutional Trading of Nokia

A number of institutional investors have recently made changes to their positions in NOK. J2 Capital Management Inc increased its position in shares of Nokia by 2.0% during the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company's stock valued at $548,000 after buying an additional 1,319 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Nokia by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company's stock worth $145,000 after acquiring an additional 1,450 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in Nokia by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock worth $97,000 after buying an additional 1,483 shares during the last quarter. Xponance LLC boosted its stake in Nokia by 13.0% during the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company's stock valued at $88,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Nokia by 12.1% during the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock valued at $118,000 after purchasing an additional 1,591 shares in the last quarter. Hedge funds and other institutional investors 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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