Nokia Oyj (NYSE:NOK) Downgraded by StockNews.com to Buy

Nokia Oyj (NYSE:NOK - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Wednesday.

Several other equities analysts have also issued reports on NOK. Craig Hallum lifted their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Monday. Northland Securities reaffirmed an "outperform" rating and set a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. Danske raised Nokia Oyj from a "hold" rating to a "buy" rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised shares of Nokia Oyj from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $4.35 to $6.35 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.62.

Nokia Oyj Stock Up 0.6 %

NYSE:NOK traded up $0.03 during trading hours on Wednesday, reaching $4.66. The company's stock had a trading volume of 9,213,331 shares, compared to its average volume of 12,503,738. The stock has a 50 day moving average price of $4.42 and a two-hundred day moving average price of $4.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72. The company has a market capitalization of $25.41 billion, a P/E ratio of 58.25, a price-to-earnings-growth ratio of 5.80 and a beta of 1.06. Nokia Oyj has a 12 month low of $3.29 and a 12 month high of $4.95.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The firm had revenue of $4.75 billion during the quarter, compared to analysts' expectations of $5.10 billion. Equities analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company's stock valued at $37,000 after buying an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Nokia Oyj in the third quarter worth $44,000. Alternative Investment Advisors LLC. purchased a new position in shares of Nokia Oyj during the second quarter worth $45,000. JGP Wealth Management LLC acquired a new position in Nokia Oyj during the third quarter valued at $45,000. Finally, PEAK6 Investments LLC purchased a new stake in Nokia Oyj in the third quarter valued at $45,000. 5.28% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.