Nokia (NYSE:NOK) Stock Price Down 3.1% – Time to Sell?

Nokia Corporation (NYSE:NOK) shares fell 3.1% during mid-day trading on Friday . The company traded as low as $14.53 and last traded at $14.80. 112,110,941 shares changed hands during mid-day trading, an increase of 56% from the average session volume of 71,804,984 shares. The stock had previously closed at $15.28.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOK. Santander raised Nokia from a “neutral” rating to an “outperform” rating in a research report on Monday, February 2nd. Arete Research raised Nokia from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective for the company in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Finally, The Goldman Sachs Group raised Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.71.

Nokia Stock Performance

The firm has a market capitalization of $84.99 billion, a price-to-earnings ratio of 92.51, a PEG ratio of 2.87 and a beta of 1.12. The company has a fifty day moving average of $11.32 and a two-hundred day moving average of $8.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.57.

Nokia (NYSE:NOK) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. The business had revenue of $5.21 billion during the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. As a group, equities research analysts predict that Nokia Corporation will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Nokia

Hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in 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 acquiring an additional 11,612,590 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Nokia by 9.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company’s stock worth $306,167,000 after acquiring an additional 3,896,363 shares during the period. ARGA Investment Management LP increased its stake in Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after acquiring an additional 12,734,021 shares during the period. Alyeska Investment Group L.P. increased its stake in Nokia by 171.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after acquiring an additional 11,035,002 shares during the period. Finally, Analog Century Management LP bought a new position in Nokia during the 4th quarter worth $104,244,000. 5.28% of the stock is owned by institutional investors and hedge funds.

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.