Nokia Co. Sees Large Drop in Short Interest (NOK)
Shares of Nokia Co. (NYSE:NOK) were the target of a large drop in short interest during the month of May. As of May 30th, there was short interest totalling 23,067,730 shares, a drop of 9.4% from the May 15th total of 25,473,378 shares, American Banking News reports. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 15,795,287 shares, the short-interest ratio is currently 1.5 days.
NOK has been the subject of a number of recent research reports. Analysts at Raymond James upgraded shares of Nokia Co. from an “underperform” rating to a “market perform” rating in a research note on Monday. Separately, analysts at RBC Capital raised their price target on shares of Nokia Co. from $9.00 to $11.00 in a research note on Thursday, June 12th. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Nokia Co. from $10.25 to $11.00 in a research note on Tuesday, May 27th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.46.
Nokia Co. (NYSE:NOK) opened at 7.59 on Wednesday. Nokia Co. has a 52 week low of $3.70 and a 52 week high of $8.35. The stock’s 50-day moving average is $7.71 and its 200-day moving average is $7.57. The company’s market cap is $28.188 billion.
Nokia Co. (NYSE:NOK) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.01. The company had revenue of $2.66 billion for the quarter. During the same quarter last year, the company posted ($0.02) earnings per share. Nokia Co.’s revenue was down 54.5% compared to the same quarter last year. On average, analysts predict that Nokia Co. will post $0.30 earnings per share for the current fiscal year.
Nokia Corporation invests in technological devices. The Company is focused on three businesses: network infrastructure software, hardware and services, which it offers through Networks; location intelligence, which the Company provides through HERE, and advanced technology development and licensing, which the Company pursues through Technologies.
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