Weiss Ratings Reaffirms Hold (C) Rating for Nokia (NYSE:NOK)

Key Points

• Weiss Ratings has reaffirmed a "hold" (C) rating for Nokia (NYSE:NOK) amidst mixed analysis from other firms, including JPMorgan Chase reducing their target price and BNP Paribas upgrading their rating.
• Nokia's stock price recently increased by 0.5%, trading at $5.20, while the stock has shown a 12-month range between $3.91 and $5.48.
• Large institutional investors have significantly increased their positions in Nokia, with Harbour Investments boosting its stake by 7,046.5% in the first quarter alone.

Nokia (NYSE:NOK - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also commented on NOK. JPMorgan Chase & Co. reduced their target price on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. BNP Paribas upgraded Nokia from a "hold" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research report on Wednesday, September 3rd. Finally, BNP Paribas Exane upgraded Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research report on Wednesday, September 3rd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.52.

Nokia Stock Up 0.5%

Shares of NYSE NOK traded up $0.03 during trading on Wednesday, reaching $5.20. The company had a trading volume of 10,147,904 shares, compared to its average volume of 21,655,777. Nokia has a 12-month low of $3.91 and a 12-month high of $5.48. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The business's 50-day moving average is $4.47 and its 200 day moving average is $4.86. The stock has a market cap of $27.95 billion, a PE ratio of 26.13 and a beta of 0.85.

Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Nokia had a net margin of 5.30% and a return on equity of 8.36%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. Nokia's revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Nokia will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Harbour Investments Inc. boosted its position in shares of Nokia by 7,046.5% during the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock valued at $27,000 after buying an additional 5,003 shares during the period. Wealthquest Corp purchased a new position in shares of Nokia during the first quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Nokia in the second quarter valued at approximately $34,000. Farther Finance Advisors LLC boosted its holdings in shares of Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock valued at $38,000 after purchasing an additional 2,651 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Nokia by 763.7% in the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock valued at $43,000 after purchasing an additional 7,286 shares during the period. Hedge funds and other institutional investors own 5.28% of the company's stock.

About Nokia

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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