Nokia Oyj (NYSE:NOK) Hits New 52-Week High - Here's Why

Nokia Oyj (NYSE:NOK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.26 and last traded at $5.26, with a volume of 1149705 shares traded. The stock had previously closed at $5.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group downgraded Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price objective on the stock. in a research report on Thursday, January 16th. StockNews.com lowered Nokia Oyj from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. Craig Hallum upped their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Nokia Oyj presently has an average rating of "Moderate Buy" and an average target price of $5.85.

Nokia Oyj Trading Up 0.5 %

The stock has a fifty day moving average of $4.76 and a two-hundred day moving average of $4.53. The company has a market capitalization of $28.22 billion, a PE ratio of 20.70, a PEG ratio of 6.43 and a beta of 1.11. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.

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Nokia Oyj (NYSE:NOK - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company's stock valued at $133,273,000 after acquiring an additional 27,755,460 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Nokia Oyj by 179.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock valued at $128,728,000 after purchasing an additional 18,660,482 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Nokia Oyj in the fourth quarter worth approximately $53,481,000. Pzena Investment Management LLC increased its stake in shares of Nokia Oyj by 10.0% in the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company's stock worth $396,735,000 after buying an additional 8,261,407 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in Nokia Oyj during the 4th quarter valued at $33,348,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Oyj Company Profile

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.