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 in the month of July. As of July 31st, there was short interest totalling 19,488,976 shares, a drop of 18.0% from the July 15th total of 23,770,984 shares, AnalystRatingsNetwork.com reports. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 20,352,851 shares, the days-to-cover ratio is currently 1.0 days.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Nokia Co. from an “outperform” rating to a “neutral” rating in a research note on Thursday. They now have a $8.25 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Nokia Co. from $7.75 to $8.25 in a research note on Thursday, July 24th. They now have a “neutral” rating on the stock. Finally, analysts at Raymond James upgraded shares of Nokia Co. from an “underperform” rating to a “market perform” rating in a research note on Monday, June 23rd. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $12.46.
Shares of Nokia Co. (NYSE:NOK) opened at 7.75 on Monday. Nokia Co. has a 1-year low of $3.87 and a 1-year high of $8.35. The stock’s 50-day moving average is $7.72 and its 200-day moving average is $7.56. The company has a market cap of $28.784 billion and a P/E ratio of 10.80.
Nokia Co. (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.06 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.01. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.91 billion. Nokia Co.’s revenue was down 47.5% compared to the same quarter last year. Analysts expect that Nokia Co. will post $0.32 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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