Old West Investment Management LLC Takes $3.55 Million Position in Nokia Corporation $NOK

Old West Investment Management LLC purchased a new position in Nokia Corporation (NYSE:NOK) during the 3rd quarter, HoldingsChannel reports. The firm purchased 738,205 shares of the technology company’s stock, valued at approximately $3,551,000.

Other large investors also recently made changes to their positions in the company. Amundi acquired a new position in shares of Nokia in the 1st quarter worth approximately $776,000. AQR Capital Management LLC grew its position in Nokia by 27.5% in the first quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock worth $985,000 after buying an additional 40,276 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Nokia by 6,539.2% in the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after buying an additional 2,798,758 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Nokia by 6,204.9% during the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock valued at $319,000 after acquiring an additional 59,505 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Nokia by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after acquiring an additional 1,002,033 shares in the last quarter. Institutional investors own 5.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NOK shares. JPMorgan Chase & Co. boosted their target price on Nokia from $7.10 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. Kepler Capital Markets upgraded Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Jefferies Financial Group upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Finally, Citigroup reaffirmed a “sell” rating on shares of Nokia in a research note on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Nokia presently has an average rating of “Moderate Buy” and a consensus price target of $6.77.

Nokia Price Performance

Shares of NYSE:NOK opened at $7.07 on Friday. The firm has a market cap of $40.60 billion, a price-to-earnings ratio of 54.39, a P/E/G ratio of 2.38 and a beta of 0.81. Nokia Corporation has a 1 year low of $4.00 and a 1 year high of $8.19. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $6.49 and a 200 day simple moving average of $5.64.

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.