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Nokia Co. (NYSE:NOK) shares reached a new 52-week high during mid-day trading on Friday , Analyst Ratings Net reports. The company traded as high as $8.40 and last traded at $8.40, with a volume of 11,164,895 shares traded. The stock had previously closed at $8.13.

A number of research firms have recently commented on NOK. Analysts at Zacks downgraded shares of Nokia Co. from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 14th. 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 analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Nokia Co. currently has an average rating of “Hold” and an average price target of $12.46.

The stock has a 50-day moving average of $7.85 and a 200-day moving average of $7.64. The company has a market cap of $31.144 billion and a P/E ratio of 11.43. Nokia Co. also saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 13,771,383 shares, a decrease of 29.3% from the July 31st total of 19,488,976 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 17,777,060 shares, the days-to-cover ratio is currently 0.8 days.

Nokia Co. (NYSE:NOK) last announced its earnings results 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 EPS 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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