Nokia Oyj (NYSE:NOK) Shares Gap Up to $3.79

Nokia Oyj (NYSE:NOK - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $3.79, but opened at $4.01. Nokia Oyj shares last traded at $3.95, with a volume of 7,692,865 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NOK shares. StockNews.com raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research note on Friday, April 19th. Barclays cut shares of Nokia Oyj from an "equal weight" rating to an "underweight" rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Nokia Oyj from $4.39 to $4.26 and set a "neutral" rating for the company in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Nokia Oyj has an average rating of "Hold" and an average target price of $4.42.

Nokia Oyj Stock Performance

The firm's fifty day moving average price is $3.58 and its 200-day moving average price is $3.50. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The firm has a market cap of $22.11 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.19 and a beta of 1.07.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. The firm had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $5.19 billion. Nokia Oyj had a net margin of 3.90% and a return on equity of 8.39%. Analysts expect that Nokia Oyj will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Nokia Oyj

A number of large investors have recently bought and sold shares of NOK. Pzena Investment Management LLC raised its position in Nokia Oyj by 13,524.2% during the 3rd quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company's stock worth $160,039,000 after buying an additional 42,477,173 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Nokia Oyj by 10.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company's stock worth $380,290,000 after buying an additional 9,908,461 shares during the last quarter. Walleye Capital LLC purchased a new position in Nokia Oyj during the 3rd quarter worth $12,591,000. BNP Paribas Financial Markets increased its holdings in shares of Nokia Oyj by 379.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,493,893 shares of the technology company's stock valued at $5,109,000 after purchasing an additional 1,182,184 shares in the last quarter. Finally, TSP Capital Management Group LLC increased its holdings in shares of Nokia Oyj by 89.2% in the 1st quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company's stock valued at $7,715,000 after purchasing an additional 1,027,600 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company's stock.

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.