Nokia Oyj (NYSE:NOK) was the recipient of unusually large options trading on Tuesday. Stock investors bought 5,214 put options on the company. This is an increase of 975% compared to the typical volume of 485 put options.
Several hedge funds have recently added to or reduced their stakes in NOK. Arrowstreet Capital Limited Partnership bought a new position in shares of Nokia Oyj in the fourth quarter valued at approximately $54,836,000. Levin Capital Strategies L.P. grew its holdings in shares of Nokia Oyj by 25.2% in the fourth quarter. Levin Capital Strategies L.P. now owns 54,775,642 shares of the technology company’s stock valued at $255,254,000 after acquiring an additional 11,016,150 shares in the last quarter. Brandes Investment Partners LP grew its holdings 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 valued at $47,751,000 after acquiring an additional 2,867,023 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Nokia Oyj by 47.8% in the fourth quarter. Renaissance Technologies LLC now owns 7,673,680 shares of the technology company’s stock valued at $35,759,000 after acquiring an additional 2,482,900 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Nokia Oyj by 69.0% in the fourth quarter. Millennium Management LLC now owns 4,424,030 shares of the technology company’s stock valued at $20,616,000 after acquiring an additional 1,806,219 shares in the last quarter. 6.64% of the stock is owned by institutional investors.
Shares of Nokia Oyj (NOK) opened at $5.86 on Wednesday. The company has a market capitalization of $33,394.83, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 2.59 and a beta of 1.05. 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 analysts have commented on the company. Vetr lowered Nokia Oyj from a “strong-buy” rating to a “hold” rating and set a $5.54 price objective for the company. in a report on Monday, February 5th. Goldman Sachs Group reissued a “neutral” rating on shares of Nokia Oyj in a report on Thursday, January 18th. Credit Suisse Group lowered Nokia Oyj from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $4.89 to $5.00 in a report on Friday, January 5th. Canaccord Genuity reissued a “hold” rating and set a $6.00 price objective on shares of Nokia Oyj in a report on Thursday, February 1st. Finally, Zacks Investment Research raised Nokia Oyj from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.54.
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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.
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