Short Interest in Nokia Oyj (NOK) Increases By 12.2%

Nokia Oyj (NYSE:NOK) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 33,210,877 shares, an increase of 12.2% from the January 12th total of 29,598,713 shares. Based on an average daily trading volume, of 17,172,945 shares, the days-to-cover ratio is currently 1.9 days.

Shares of Nokia Oyj (NYSE NOK) opened at $5.51 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.55 and a debt-to-equity ratio of 0.21. Nokia Oyj has a one year low of $4.51 and a one year high of $6.65. The firm has a market cap of $31,960.00, a price-to-earnings ratio of -17.22, a P/E/G ratio of 2.32 and a beta of 1.31.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. Nokia Oyj had a negative net margin of 6.37% and a positive return on equity of 10.80%. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.41 billion. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Nokia Oyj’s revenue for the quarter was down .7% on a year-over-year basis. analysts forecast that Nokia Oyj will post 0.31 EPS for the current year.

A number of research firms have weighed in on NOK. Zacks Investment Research raised shares of Nokia Oyj from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Vetr cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating and set a $5.54 target price on the stock. in a research note on Monday, January 29th. Bank of America raised shares of Nokia Oyj from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Canaccord Genuity decreased their target price on shares of Nokia Oyj from $7.00 to $5.50 and set a “hold” rating on the stock in a research note on Friday, October 27th. Finally, MKM Partners raised shares of Nokia Oyj from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.50 to $7.50 in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.74.

Several institutional investors have recently modified their holdings of the stock. Brandes Investment Partners LP grew its stake in shares of Nokia Oyj by 38.8% in the fourth quarter. Brandes Investment Partners LP now owns 10,247,013 shares of the technology company’s stock worth $47,751,000 after purchasing an additional 2,867,023 shares during the last quarter. AlphaOne Investment Services LLC bought a new stake in shares of Nokia Oyj in the fourth quarter worth $715,000. Baird Financial Group Inc. bought a new stake in shares of Nokia Oyj in the fourth quarter worth $257,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Nokia Oyj in the fourth quarter worth $54,836,000. Finally, Centaurus Financial Inc. bought a new stake in shares of Nokia Oyj in the fourth quarter worth $102,000. 6.03% of the stock is currently owned by institutional investors.

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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.

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