Nokia Oyj (NYSE:NOK) Shares Gap Up - Should You Buy?

Shares of Nokia Oyj (NYSE:NOK - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $5.27, but opened at $5.40. Nokia Oyj shares last traded at $5.34, with a volume of 2,859,516 shares changing hands.

Analysts Set New Price Targets

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

Nokia Oyj Stock Down 6.8 %

The business's fifty day moving average is $5.01 and its two-hundred day moving average is $4.65. The stock has a market cap of $27.18 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 6.43 and a beta of 1.11. The company has a quick ratio of 1.39, a current ratio of 1.58 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%. Equities analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC purchased a new position in Nokia Oyj in the fourth quarter worth approximately $45,000. D.A. Davidson & CO. acquired a new stake in shares of Nokia Oyj in the 4th quarter valued at $46,000. PEAK6 Investments LLC purchased a new stake in shares of Nokia Oyj during the 3rd quarter worth $45,000. Wedmont Private Capital acquired a new position in shares of Nokia Oyj during the fourth quarter worth $47,000. Finally, Wealthstream Advisors Inc. purchased a new position in Nokia Oyj in the fourth quarter valued at $49,000. 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.