Nokia Oyj (NOK) Upgraded to Buy by MKM Partners

Nokia Oyj (NYSE:NOK) was upgraded by investment analysts at MKM Partners from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has a $7.50 target price on the technology company’s stock, up from their prior target price of $5.50. MKM Partners’ price target indicates a potential upside of 38.89% from the stock’s current price.

Several other equities analysts have also recently weighed in on NOK. Canaccord Genuity reissued a “hold” rating and set a $6.00 price target on shares of Nokia Oyj in a report on Thursday. Vetr cut Nokia Oyj from a “strong-buy” rating to a “buy” rating and set a $5.54 target price on the stock. in a report on Monday. Argus cut Nokia Oyj from a “buy” rating to a “hold” rating and raised their target price for the stock from $4.76 to $4.91 in a report on Monday, October 30th. BNP Paribas raised Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, November 7th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating on shares of Nokia Oyj in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.66.

Nokia Oyj (NOK) traded down $0.01 during midday trading on Friday, hitting $5.40. The stock had a trading volume of 33,170,000 shares, compared to its average volume of 15,280,000. The company has a market cap of $31,410.00, a PE ratio of -54.00, a price-to-earnings-growth ratio of 1.85 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.59 and a quick ratio of 1.33. Nokia Oyj has a 12-month low of $4.51 and a 12-month high of $6.65.

A number of institutional investors have recently made changes to their positions in NOK. Renaissance Technologies LLC increased its stake in Nokia Oyj by 705.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock worth $20,506,000 after buying an additional 2,915,600 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Nokia Oyj in the 2nd quarter worth $13,766,000. TCW Group Inc. increased its stake in Nokia Oyj by 30.8% in the 3rd quarter. TCW Group Inc. now owns 6,074,746 shares of the technology company’s stock worth $36,327,000 after buying an additional 1,429,672 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Nokia Oyj in the 3rd quarter worth $4,053,000. Finally, Royal Bank of Canada increased its stake in Nokia Oyj by 56.7% in the 2nd quarter. Royal Bank of Canada now owns 1,852,037 shares of the technology company’s stock worth $11,408,000 after buying an additional 670,039 shares in the last quarter. 5.83% of the stock is currently owned by institutional investors.

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Nokia Oyj Company Profile

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.