Craig Hallum Raises Nokia Oyj (NYSE:NOK) Price Target to $7.00

Nokia Oyj (NYSE:NOK - Get Free Report) had its price target increased by investment analysts at Craig Hallum from $6.00 to $7.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Craig Hallum's price objective points to a potential upside of 53.85% from the stock's previous close.

NOK has been the topic of several other reports. StockNews.com upgraded shares of Nokia Oyj from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 25th. JPMorgan Chase & Co. upgraded Nokia Oyj from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Danske raised Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Finally, Northland Securities reissued an "outperform" rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.62.

Nokia Oyj Stock Up 1.6 %

NYSE NOK traded up $0.07 during trading hours on Monday, hitting $4.55. The company's stock had a trading volume of 14,598,091 shares, compared to its average volume of 12,639,245. The company has a market capitalization of $24.81 billion, a PE ratio of 56.88, a price-to-earnings-growth ratio of 5.80 and a beta of 1.06. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $4.95. The company's 50-day simple moving average is $4.44 and its two-hundred day simple moving average is $4.23.

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 the consensus estimate of $0.07. The company had revenue of $4.75 billion for the quarter, compared to analysts' expectations of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. Research analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Trading of Nokia Oyj

A number of large investors have recently bought and sold shares of NOK. FMR LLC grew its stake in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company's stock worth $133,273,000 after acquiring an additional 27,755,460 shares during the period. Pzena Investment Management LLC increased its stake in shares of Nokia Oyj by 10.0% in the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company's stock worth $396,735,000 after purchasing an additional 8,261,407 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Nokia Oyj by 2,505.3% in the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company's stock valued at $3,191,000 after purchasing an additional 702,279 shares during the period. Bank of Montreal Can purchased a new stake in shares of Nokia Oyj during the 2nd quarter valued at approximately $2,501,000. Finally, Maverick Capital Ltd. bought a new position in Nokia Oyj in the 2nd quarter worth approximately $1,240,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.