Nokia (NYSE:NOK) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Nokia Corporation (NYSE:NOK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.30 and traded as high as $6.56. Nokia shares last traded at $6.5250, with a volume of 13,200,973 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NOK shares. BNP Paribas raised Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price objective for the company in a research note on Wednesday, September 3rd. Santander lowered Nokia to a “neutral” rating in a research report on Wednesday, October 29th. Jefferies Financial Group upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Tuesday, October 28th. Northland Securities set a $7.50 target price on shares of Nokia in a research note on Friday, October 24th. Finally, Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, November 21st. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $6.10.

Nokia Stock Performance

The firm has a market cap of $36.38 billion, a PE ratio of 36.25 and a beta of 0.77. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $5.30.

Nokia (NYSE:NOK) last released its earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Nokia had a return on equity of 8.24% and a net margin of 4.65%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. As a group, equities research analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Nokia by 18.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company’s stock valued at $2,471,000 after purchasing an additional 74,072 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Nokia by 18.2% during the 1st quarter. Raymond James Financial Inc. now owns 790,319 shares of the technology company’s stock valued at $4,165,000 after buying an additional 121,856 shares during the last quarter. Northern Trust Corp grew its stake in shares of Nokia by 6.2% during the 1st quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company’s stock worth $20,573,000 after acquiring an additional 228,030 shares during the period. Compound Planning Inc. increased its holdings in Nokia by 20.7% in the 1st quarter. Compound Planning Inc. now owns 56,889 shares of the technology company’s stock worth $300,000 after acquiring an additional 9,755 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Nokia by 28.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 48,003 shares of the technology company’s stock valued at $253,000 after acquiring an additional 10,508 shares during the period. Hedge funds and other institutional investors own 5.28% of the company’s stock.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.