Penserra Capital Management LLC Cuts Stock Holdings in Nokia Oyj (NYSE:NOK)

Penserra Capital Management LLC lowered its stake in shares of Nokia Oyj (NYSE:NOK - Free Report) by 69.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,097,107 shares of the technology company's stock after selling 2,523,172 shares during the period. Penserra Capital Management LLC's holdings in Nokia Oyj were worth $4,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Truist Financial Corp boosted its position in shares of Nokia Oyj by 15.7% in the 2nd 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Nokia Oyj by 3.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company's stock worth $392,000 after purchasing an additional 2,776 shares in the last quarter. Caprock Group LLC boosted its position in shares of Nokia Oyj by 5.5% in the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company's stock worth $252,000 after purchasing an additional 3,023 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Nokia Oyj by 3.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company's stock worth $328,000 after purchasing an additional 3,097 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Nokia Oyj by 30.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company's stock worth $59,000 after purchasing an additional 3,199 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company's stock.

Nokia Oyj Trading Up 0.6 %

NOK traded up $0.03 during trading hours on Monday, reaching $4.21. The company's stock had a trading volume of 20,585,475 shares, compared to its average volume of 16,123,664. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.95. The stock has a market cap of $22.93 billion, a PE ratio of 52.56, a P/E/G ratio of 5.41 and a beta of 1.12. The business's 50-day moving average is $4.47 and its 200-day moving average is $4.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46.

Nokia Oyj (NYSE:NOK - Get Free Report) last announced its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.07. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. As a group, equities research analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on NOK. Danske raised Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Northland Securities reaffirmed an "outperform" rating and set a $6.50 price target on shares of Nokia Oyj in a research report on Friday, October 18th. JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $4.36 to $4.35 and set a "neutral" rating for the company in a research report on Monday, October 21st. StockNews.com cut Nokia Oyj from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 26th. Finally, Craig Hallum raised Nokia Oyj from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Nokia Oyj presently has a consensus rating of "Hold" and a consensus target price of $4.56.

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.