Nokia Oyj (NYSE:NOK) Shares Gap Down - What's Next?

Nokia Oyj (NYSE:NOK - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $4.69, but opened at $4.54. Nokia Oyj shares last traded at $4.53, with a volume of 2,880,700 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOK. Northland Securities reissued an "outperform" rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. The Goldman Sachs Group lowered shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 target price on the stock. in a report on Thursday, January 16th. Danske upgraded shares of Nokia Oyj from a "hold" rating to a "buy" rating in a report on Friday, October 18th. StockNews.com upgraded shares of Nokia Oyj from a "buy" rating to a "strong-buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of 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 report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Nokia Oyj presently has an average rating of "Moderate Buy" and an average price target of $5.86.

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Nokia Oyj Stock Down 3.9 %

The firm's fifty day moving average price is $4.41 and its two-hundred day moving average price is $4.30. The stock has a market cap of $24.56 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors have recently added to or reduced their stakes in NOK. GAMMA Investing LLC lifted its stake in shares of Nokia Oyj by 67.0% during the 3rd 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 in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Nokia Oyj in the 3rd quarter worth approximately $44,000. Alternative Investment Advisors LLC. purchased a new stake in Nokia Oyj in the 2nd quarter worth approximately $45,000. JGP Wealth Management LLC purchased a new stake in Nokia Oyj in the 3rd quarter worth approximately $45,000. Finally, PEAK6 Investments LLC purchased a new stake in Nokia Oyj in the 3rd quarter worth approximately $45,000. 5.28% of the stock is owned by 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.