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Nokia Oyj (NYSE:NOK) Shares Gap Up - Here's Why

Nokia Oyj logo with Computer and Technology background

Nokia Oyj (NYSE:NOK - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $5.27, but opened at $5.40. Nokia Oyj shares last traded at $5.34, with a volume of 2,859,516 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOK. The Goldman Sachs Group downgraded shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 target price on the stock. in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a report on Friday, February 21st. StockNews.com lowered Nokia Oyj from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Craig Hallum raised their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Nokia Oyj has an average rating of "Moderate Buy" and a consensus target price of $5.85.

Check Out Our Latest Report on Nokia Oyj

Nokia Oyj Trading Down 4.3 %

The firm has a market capitalization of $25.98 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The firm has a 50-day moving average of $5.02 and a 200-day moving average of $4.65.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. On average, equities research analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PEAK6 Investments LLC bought a new stake in Nokia Oyj in the third quarter valued at $45,000. Foundations Investment Advisors LLC bought a new stake in shares of Nokia Oyj during the 4th quarter valued at about $45,000. D.A. Davidson & CO. purchased a new position in shares of Nokia Oyj during the fourth quarter valued at about $46,000. Wedmont Private Capital bought a new position in Nokia Oyj in the fourth quarter worth about $47,000. Finally, Wealthstream Advisors Inc. purchased a new stake in Nokia Oyj in the fourth quarter worth about $49,000. Institutional investors own 5.28% of the company's stock.

Nokia Oyj Company Profile

(Get Free Report)

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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