Nokia Oyj (NYSE:NOK) Shares Gap Down - Should You Sell?

Nokia Oyj (NYSE:NOK - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.61, but opened at $4.47. Nokia Oyj shares last traded at $4.45, with a volume of 6,300,376 shares trading hands.

Analyst Upgrades and Downgrades

NOK has been the topic of several recent analyst reports. Northland Securities restated an "outperform" rating and issued a $6.50 target price on shares of Nokia Oyj in a report on Friday, October 18th. StockNews.com downgraded shares of Nokia Oyj from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Danske raised Nokia Oyj from a "hold" rating to a "buy" rating in a research note on Friday, October 18th. Craig Hallum upped their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Nokia Oyj from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $5.86.

Nokia Oyj Stock Up 1.5 %

The company has a 50-day moving average of $4.41 and a two-hundred day moving average of $4.28. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $24.56 billion, a P/E ratio of 56.31, a price-to-earnings-growth ratio of 5.61 and a beta of 1.06.

Nokia Oyj (NYSE:NOK - Get Free Report) last released its earnings results 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 net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. On average, research analysts predict that Nokia Oyj will post 0.35 EPS for the current year.

Institutional Trading of Nokia Oyj

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC grew 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 acquiring an additional 8,261,407 shares during the last quarter. FMR LLC grew its position 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 purchasing an additional 27,755,460 shares during the last quarter. American Century Companies Inc. increased its stake in Nokia Oyj by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company's stock valued at $3,787,000 after purchasing an additional 96,144 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Nokia Oyj by 2,505.3% in the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company's stock worth $3,191,000 after buying an additional 702,279 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Nokia Oyj in the second quarter worth approximately $2,501,000. Hedge funds and other institutional investors 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.