Nokia Oyj (NYSE:NOK) Short Interest Down 25.7% in April

Nokia Oyj (NYSE:NOK - Get Free Report) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 19,570,000 shares, a drop of 25.7% from the March 31st total of 26,330,000 shares. Approximately 0.4% of the company's stock are sold short. Based on an average daily volume of 15,650,000 shares, the days-to-cover ratio is currently 1.3 days.

Nokia Oyj Stock Performance

Nokia Oyj stock traded up $0.01 during midday trading on Friday, hitting $3.65. 11,129,679 shares of the company's stock were exchanged, compared to its average volume of 15,969,363. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.64. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The firm's 50 day simple moving average is $3.55 and its 200 day simple moving average is $3.47.

Nokia Oyj (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter last year, the business posted $0.16 EPS. Equities research analysts predict that Nokia Oyj will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NOK shares. Barclays lowered shares of Nokia Oyj from an "equal weight" rating to an "underweight" rating in a report on Friday, January 19th. StockNews.com raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Friday, April 19th. JPMorgan Chase & Co. dropped their target price on shares of Nokia Oyj from $4.39 to $4.26 and set a "neutral" rating on the stock in a research report on Tuesday, April 16th. Finally, BNP Paribas started coverage on shares of Nokia Oyj in a research report on Friday, January 12th. They issued a "neutral" rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $4.42.

Institutional Trading of Nokia Oyj

Several hedge funds have recently made changes to their positions in NOK. Sage Rhino Capital LLC acquired a new stake in shares of Nokia Oyj in the first quarter valued at about $73,000. Checchi Capital Advisers LLC acquired a new stake in shares of Nokia Oyj in the first quarter valued at about $35,000. Valeo Financial Advisors LLC acquired a new stake in shares of Nokia Oyj in the first quarter valued at about $67,000. PFG Investments LLC acquired a new stake in shares of Nokia Oyj in the first quarter valued at about $187,000. Finally, Drive Wealth Management LLC acquired a new stake in shares of Nokia Oyj in the first quarter valued at about $48,000. Institutional investors and hedge funds own 5.28% of the company's stock.

About Nokia Oyj

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.