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

Nokia Oyj (NYSE:NOK - Get Free Report)'s share price gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Nokia Oyj from a "buy" rating to a "hold" rating in a report on Monday. Craig Hallum lifted their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a research report on Monday, January 6th. The Goldman Sachs Group lowered shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price objective 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 analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.85.

Nokia Oyj Trading Up 1.5 %

The company has a market cap of $25.91 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 6.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The business's fifty day moving average price is $5.02 and its 200 day moving average price is $4.66.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Research analysts anticipate 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 bought and sold shares of the company. QRG Capital Management Inc. boosted its position in shares of Nokia Oyj by 29.9% during the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company's stock valued at $3,060,000 after purchasing an additional 158,935 shares in the last quarter. Hel Ved Capital Management Ltd bought a new position in shares of Nokia Oyj during the 4th quarter worth approximately $8,001,000. Charles Schwab Investment Management Inc. grew its position in shares of Nokia Oyj by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 394,867 shares of the technology company's stock worth $1,749,000 after buying an additional 48,509 shares during the period. Quantbot Technologies LP bought a new stake in shares of Nokia Oyj in the 4th quarter valued at $2,116,000. Finally, XTX Topco Ltd bought a new stake in shares of Nokia Oyj in the 3rd quarter valued at $1,417,000. Institutional investors and hedge funds own 5.28% of the company's stock.

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.