Nokia Oyj (NYSE:NOK) Sees Strong Trading Volume – Time to Buy?

Shares of Nokia Oyj (NYSE:NOK) saw strong trading volume on Wednesday . 16,017,831 shares were traded during trading, an increase of 25% from the previous session’s volume of 12,837,626 shares.The stock last traded at $4.61 and had previously closed at $4.51.

Analysts Set New Price Targets

NOK has been the subject of several recent research reports. Craig Hallum lifted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Northland Securities restated an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. Finally, StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.62.

Nokia Oyj Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The firm has a market cap of $25.25 billion, a price-to-earnings ratio of 57.88, a P/E/G ratio of 5.80 and a beta of 1.06. The firm has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $4.27.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. On average, analysts expect that Nokia Oyj will post 0.34 EPS for the current year.

Institutional Trading of Nokia Oyj

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Nokia Oyj in the third quarter valued at about $44,000. JGP Wealth Management LLC purchased a new stake in Nokia Oyj during the 3rd quarter worth approximately $45,000. PEAK6 Investments LLC purchased a new stake in shares of Nokia Oyj during the third quarter worth approximately $45,000. Finally, Wedmont Private Capital acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at about $47,000. Institutional investors and hedge funds 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.