Nokia Target of Unusually Large Options Trading (NYSE:NOK)

Key Points

• Traders bought an unusual volume of calls on Nokia (NYSE:NOK) — 106,975 call options on Monday, about a 63% increase over the typical daily call volume.
• The stock traded up to $10.61 on heavy volume (88.5M shares vs. a 53.0M average), sitting near its one-year high of $10.69 and carrying a market cap of ~$60.9B with a high P/E of 81.6.
• Several institutional investors materially increased positions (e.g., Pzena, Arrowstreet, Alyeska), while analysts show mixed views but a consensus rating of “Moderate Buy” with a $8.83 target.

Nokia Corporation (NYSE:NOK - Get Free Report) saw some unusual options trading on Monday. Traders acquired 106,975 call options on the stock. This is an increase of 63% compared to the typical volume of 65,459 call options.

Nokia Price Performance

Shares of Nokia stock traded up $0.30 during trading on Monday, reaching $10.61. The company's stock had a trading volume of 88,513,676 shares, compared to its average volume of 53,002,391. The stock has a 50-day moving average price of $8.26 and a two-hundred day moving average price of $7.01. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. Nokia has a one year low of $4.00 and a one year high of $10.69. The stock has a market capitalization of $60.90 billion, a P/E ratio of 81.58, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, March 5th. The technology company reported $0.11 earnings per share for the quarter. The company had revenue of $7.19 billion during the quarter. Nokia had a return on equity of 8.54% and a net margin of 3.41%. As a group, sell-side analysts anticipate that Nokia will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on NOK. Northland Securities set a $13.00 price objective on Nokia in a research report on Monday. Citigroup reiterated a "sell" rating on shares of Nokia in a research report on Friday, January 23rd. Arete Research downgraded Nokia from a "buy" rating to a "neutral" rating in a research report on Friday, March 13th. Bank of America upgraded shares of Nokia from a "neutral" rating to a "buy" rating and set a $12.40 price target for the company in a research note on Monday, April 13th. Finally, Danske cut shares of Nokia from a "buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.83.

Institutional Investors Weigh In On Nokia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOK. Pzena Investment Management LLC increased its position in shares of Nokia by 14.5% in the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company's stock valued at $594,868,000 after buying an additional 11,612,590 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Nokia by 9.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company's stock valued at $306,167,000 after buying an additional 3,896,363 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company's stock valued at $113,161,000 after buying an additional 11,035,002 shares in the last quarter. Folketrygdfondet increased its position in shares of Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company's stock valued at $83,600,000 after buying an additional 6,950,487 shares in the last quarter. Finally, Analog Century Management LP bought a new stake in shares of Nokia in the 4th quarter valued at $104,244,000. Institutional investors own 5.28% of the company's stock.

About Nokia

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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