Stock Traders Purchase Large Volume of Nokia Call Options (NYSE:NOK)

Nokia Corporation (NYSE:NOK) saw some unusual options trading activity on Tuesday. Stock traders acquired 92,784 call options on the stock. This represents an increase of approximately 68% compared to the average daily volume of 55,357 call options.

Hedge Funds Weigh In On Nokia

Large investors have recently modified their holdings of the business. Artisan Partners Limited Partnership grew its stake in Nokia by 1.8% in the second quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock valued at $560,150,000 after purchasing an additional 1,957,524 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Nokia by 14.5% during the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after purchasing an additional 11,612,590 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Nokia by 9.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock valued at $306,167,000 after buying an additional 3,896,363 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Nokia by 171.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock valued at $113,161,000 after buying an additional 11,035,002 shares in the last quarter. Finally, Folketrygdfondet grew 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 valued at $83,600,000 after buying an additional 6,950,487 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOK has been the topic of a number of research analyst reports. Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. Danske cut Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Santander upgraded Nokia from a “neutral” rating to an “outperform” rating in a report on Monday, February 2nd. Finally, Argus raised Nokia to a “hold” rating in a research report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.01.

Nokia Stock Performance

Shares of NOK stock opened at $7.93 on Thursday. Nokia has a 12 month low of $4.00 and a 12 month high of $8.37. The company’s fifty day simple moving average is $7.06 and its 200-day simple moving average is $6.19. The firm has a market cap of $45.51 billion, a PE ratio of 60.97, a P/E/G ratio of 2.85 and a beta of 0.80. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11.

Nokia Company Profile

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.