Nokia Oyj (NYSE:NOK) Short Interest Update

Nokia Oyj (NYSE:NOK - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 48,180,000 shares, a decline of 35.4% from the February 28th total of 74,630,000 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 19,570,000 shares, the short-interest ratio is currently 2.5 days.

Nokia Oyj Price Performance

Shares of NOK traded up $0.03 on Wednesday, hitting $5.37. The company's stock had a trading volume of 14,183,609 shares, compared to its average volume of 17,243,595. The company has a 50 day moving average price of $4.99 and a 200 day moving average price of $4.64. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $5.48. The company has a market capitalization of $29.28 billion, a PE ratio of 21.48, a PEG ratio of 6.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

Nokia Oyj (NYSE:NOK - Get Free Report) last announced its 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 return on equity of 10.30% and a net margin of 6.54%. On average, research analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

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Analyst Ratings Changes

Several brokerages have issued reports on NOK. JPMorgan Chase & Co. lowered their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group lowered shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price target for the company. in a research report on Thursday, January 16th. StockNews.com lowered Nokia Oyj from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Craig Hallum boosted their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat, Nokia Oyj has a consensus rating of "Moderate Buy" and an average price target of $5.85.

Institutional Investors Weigh In On Nokia Oyj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at approximately $2,321,000. Mackenzie Financial Corp acquired a new stake in shares of Nokia Oyj during the 4th quarter worth approximately $712,000. Forum Financial Management LP raised its stake in shares of Nokia Oyj by 100.1% during the fourth quarter. Forum Financial Management LP now owns 191,570 shares of the technology company's stock worth $849,000 after buying an additional 95,825 shares during the last quarter. Formidable Asset Management LLC acquired a new position in Nokia Oyj in the fourth quarter valued at approximately $49,000. Finally, Woodline Partners LP boosted its position in shares of Nokia Oyj by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock worth $53,162,000 after purchasing an additional 6,677,017 shares during the last quarter. 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.