Short Interest in Nokia Oyj (NYSE:NOK) Decreases By 15.3%

Nokia Oyj (NYSE:NOK - Get Free Report) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 35,540,000 shares, a decrease of 15.3% from the March 31st total of 41,960,000 shares. Based on an average daily volume of 23,230,000 shares, the short-interest ratio is presently 1.5 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Trading of Nokia Oyj

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Nokia Oyj by 62.3% during the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock valued at $219,292,000 after buying an additional 19,004,399 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Nokia Oyj by 179.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock worth $128,728,000 after purchasing an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Nokia Oyj in the fourth quarter valued at approximately $53,481,000. Freestone Grove Partners LP acquired a new stake in shares of Nokia Oyj in the fourth quarter worth $33,348,000. Finally, Woodline Partners LP grew its stake in Nokia Oyj by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after buying an additional 6,677,017 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NOK shares. StockNews.com lowered shares of Nokia Oyj from a "buy" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. lowered their target price on Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, The Goldman Sachs Group lowered Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price objective for the company. in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $5.85.

Nokia Oyj Stock Performance

NOK stock traded down $0.01 on Thursday, reaching $5.05. The company's stock had a trading volume of 13,042,969 shares, compared to its average volume of 17,909,103. The firm has a fifty day moving average of $5.10 and a two-hundred day moving average of $4.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The company has a market capitalization of $27.54 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 6.43 and a beta of 0.95. Nokia Oyj has a 52 week low of $3.57 and a 52 week high of $5.48.

Nokia Oyj (NYSE:NOK - Get Free Report) last announced its earnings results on Thursday, April 24th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the firm earned $0.09 EPS. Nokia Oyj's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Nokia Oyj Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a $0.0336 dividend. This represents a $0.13 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Nokia Oyj's previous quarterly dividend of $0.02. Nokia Oyj's dividend payout ratio is 106.67%.

Nokia Oyj 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.