Nokia Oyj (NYSE:NOK) Sees Strong Trading Volume - Still a Buy?

Nokia Oyj (NYSE:NOK - Get Free Report) shares saw strong trading volume on Wednesday . 16,017,831 shares changed hands during mid-day trading, an increase of 25% from the previous session's volume of 12,837,626 shares.The stock last traded at $4.61 and had previously closed at $4.51.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Nokia Oyj from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum lifted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Northland Securities reissued an "outperform" rating and issued a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. Danske raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Finally, StockNews.com downgraded shares of Nokia Oyj from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.62.

Nokia Oyj Trading Up 2.2 %

The stock has a market capitalization of $25.14 billion, a P/E ratio of 57.63, a P/E/G ratio of 5.80 and a beta of 1.06. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $4.41 and a two-hundred day moving average price of $4.27.

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

Institutional Trading of Nokia Oyj

Several large investors have recently made changes to their positions in the company. Truist Financial Corp lifted its stake in Nokia Oyj by 15.7% during the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company's stock worth $76,000 after purchasing an additional 2,710 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Nokia Oyj by 3.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company's stock worth $392,000 after buying an additional 2,776 shares during the last quarter. Caprock Group LLC lifted its position in shares of Nokia Oyj by 5.5% during the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company's stock worth $252,000 after buying an additional 3,023 shares during the last quarter. Bleakley Financial Group LLC grew its position in Nokia Oyj by 30.8% in the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company's stock valued at $59,000 after acquiring an additional 3,199 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Nokia Oyj by 3.0% during the second quarter. Profund Advisors LLC now owns 115,950 shares of the technology company's stock worth $438,000 after acquiring an additional 3,349 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

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.