Nokia Oyj Sees Unusually Large Options Volume (NYSE:NOK)

Nokia Oyj (NYSE:NOK) saw unusually large options trading on Monday. Investors bought 10,704 call options on the company. This is an increase of approximately 61% compared to the average daily volume of 6,667 call options.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. BNP Paribas started coverage on Nokia Oyj in a research report on Friday, January 12th. They set a “neutral” rating for the company. Finally, Barclays downgraded shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.42.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently modified their holdings of the company. PFG Investments LLC purchased a new position in shares of Nokia Oyj in the first quarter worth approximately $187,000. Drive Wealth Management LLC bought a new position in Nokia Oyj in the first quarter worth approximately $48,000. Wealthstar Advisors LLC boosted its stake in shares of Nokia Oyj by 72.4% during the 1st quarter. Wealthstar Advisors LLC now owns 32,923 shares of the technology company’s stock worth $117,000 after acquiring an additional 13,828 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Nokia Oyj by 22.0% during the 1st quarter. Sivia Capital Partners LLC now owns 17,678 shares of the technology company’s stock valued at $63,000 after acquiring an additional 3,184 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Nokia Oyj in the 1st quarter worth $35,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Price Performance

NYSE NOK opened at $3.70 on Tuesday. Nokia Oyj has a one year low of $2.94 and a one year high of $4.36. The stock has a 50-day moving average of $3.54 and a 200 day moving average of $3.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.64. The company has a market capitalization of $20.84 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 0.98 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, sell-side analysts forecast that Nokia Oyj will post 0.38 EPS for the current year.

Nokia Oyj Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Tuesday, April 23rd will be issued a dividend of $0.0323 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.13 annualized dividend and a dividend yield of 3.49%. Nokia Oyj’s payout ratio is 56.25%.

About Nokia Oyj

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.