Nokia Oyj (NYSE:NOK) was downgraded by stock analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued on Friday, MarketBeat reports. They presently have a $5.00 price objective on the technology company’s stock, up from their prior price objective of $4.89. Credit Suisse Group’s price target would suggest a potential upside of 1.63% from the company’s current price.
Several other research analysts also recently commented on NOK. Vetr downgraded Nokia Oyj from a “strong-buy” rating to a “hold” rating and set a $6.37 price target on the stock. in a research report on Monday, September 18th. Canaccord Genuity lowered their price objective on Nokia Oyj from $7.00 to $5.50 and set a “hold” rating on the stock in a research report on Friday, October 27th. BNP Paribas cut Nokia Oyj from a “neutral” rating to an “underperform” rating in a research report on Thursday, September 21st. UBS Group restated a “buy” rating on shares of Nokia Oyj in a research report on Wednesday, September 20th. Finally, Argus cut Nokia Oyj from a “buy” rating to a “hold” rating and boosted their price objective for the company from $4.76 to $4.91 in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.51.
Nokia Oyj (NYSE:NOK) opened at $4.92 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $28,729.87, a P/E ratio of -44.73, a P/E/G ratio of 1.36 and a beta of 1.29. Nokia Oyj has a one year low of $4.50 and a one year high of $6.65.
A number of hedge funds have recently made changes to their positions in NOK. Tiedemann Wealth Management LLC acquired a new stake in Nokia Oyj in the 3rd quarter valued at $114,000. Institute for Wealth Management LLC. acquired a new stake in Nokia Oyj in the 2nd quarter valued at $116,000. Strategic Global Advisors LLC acquired a new stake in Nokia Oyj in the 3rd quarter valued at $143,000. CIBC World Markets Inc. boosted its stake in Nokia Oyj by 26.7% in the 2nd quarter. CIBC World Markets Inc. now owns 26,594 shares of the technology company’s stock valued at $164,000 after buying an additional 5,610 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Nokia Oyj in the 3rd quarter valued at $190,000. 5.83% of the stock is currently owned by institutional investors and hedge funds.
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Nokia Oyj Company Profile
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
