Craig Hallum Upgrades Nokia Oyj (NYSE:NOK) to Strong-Buy

Nokia Oyj (NYSE:NOK) was upgraded by equities research analysts at Craig Hallum from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday, Zacks.com reports.

A number of other equities analysts have also commented on the stock. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Friday. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.54.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.75 on Thursday. The business’s 50-day simple moving average is $4.28 and its 200 day simple moving average is $3.93. The company has a market cap of $26.21 billion, a P/E ratio of 29.66, a PEG ratio of 5.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. Nokia Oyj has a one year low of $2.94 and a one year high of $4.78.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. On average, sell-side analysts forecast that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NOK. GAMMA Investing LLC increased its holdings in shares of Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares during the last quarter. Banque Cantonale Vaudoise increased its stake in Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after purchasing an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Nokia Oyj during the first quarter worth $35,000. JGP Wealth Management LLC bought a new position in shares of Nokia Oyj in the 3rd quarter worth about $45,000. Finally, Simplicity Wealth LLC acquired a new position in shares of Nokia Oyj in the 2nd quarter valued at about $39,000. 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.