Nokia Oyj (NYSE:NOK) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat.com reports. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued research reports about the company. Vetr downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating and set a $5.54 price objective for the company. in a research report on Monday, January 29th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Oyj in a research report on Friday, October 27th. MKM Partners raised Nokia Oyj from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $5.50 to $7.50 in a research report on Friday. Canaccord Genuity reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Nokia Oyj in a research report on Thursday. Finally, Argus downgraded Nokia Oyj from a “buy” rating to a “hold” rating and lifted their price objective for the company from $4.76 to $4.91 in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. Nokia Oyj has an average rating of “Hold” and an average target price of $5.66.
Shares of Nokia Oyj (NYSE:NOK) traded down $0.08 during trading hours on Monday, hitting $5.32. The stock had a trading volume of 38,120,000 shares, compared to its average volume of 16,170,000. The stock has a market capitalization of $31,660.00, a P/E ratio of -16.63, a P/E/G ratio of 1.83 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.55. Nokia Oyj has a twelve month low of $4.51 and a twelve month high of $6.65.
A number of institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. boosted its holdings in Nokia Oyj by 1.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 571,258 shares of the technology company’s stock valued at $2,662,000 after acquiring an additional 10,606 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Nokia Oyj in the fourth quarter valued at $116,000. Financial & Investment Management Group Ltd. boosted its holdings in Nokia Oyj by 44.2% in the fourth quarter. Financial & Investment Management Group Ltd. now owns 1,661,957 shares of the technology company’s stock valued at $7,745,000 after acquiring an additional 509,555 shares during the last quarter. Horrell Capital Management Inc. acquired a new position in Nokia Oyj in the fourth quarter valued at $2,097,000. Finally, Cornerstone Investment Partners LLC boosted its holdings in Nokia Oyj by 100.0% in the fourth quarter. Cornerstone Investment Partners LLC now owns 50,000 shares of the technology company’s stock valued at $233,000 after acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 5.84% of the company’s stock.
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About Nokia Oyj
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.
