Nokia Corporation (NYSE:NOK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Nokia Corporation (NYSE:NOK) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.7675.

A number of research analysts have commented on the company. Northland Securities set a $7.50 target price on Nokia in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. JPMorgan Chase & Co. raised their price objective on shares of Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, November 21st. Finally, UBS Group restated a “neutral” rating on shares of Nokia in a research note on Tuesday, October 28th.

Nokia Stock Down 1.7%

NOK stock opened at $6.82 on Thursday. The company has a 50 day moving average of $6.40 and a two-hundred day moving average of $5.55. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.12. Nokia has a 12-month low of $4.00 and a 12-month high of $8.19. The company has a market cap of $39.17 billion, a price-to-earnings ratio of 37.90 and a beta of 0.77.

Institutional Trading of Nokia

Several large investors have recently made changes to their positions in NOK. Artisan Partners Limited Partnership increased its holdings in shares of Nokia by 1.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock valued at $560,150,000 after acquiring an additional 1,957,524 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after purchasing an additional 11,667,677 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after purchasing an additional 14,482,665 shares during the period. Folketrygdfondet lifted its stake in shares of Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after buying an additional 6,950,487 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after buying an additional 12,619,099 shares during the period. 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.