Nokia Oyj (NYSE:NOK) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Nokia Oyj (NYSE:NOK - Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday.

NOK has been the subject of several other reports. JPMorgan Chase & Co. cut their price target on Nokia Oyj from $4.36 to $4.35 and set a "neutral" rating for the company in a report on Monday, October 21st. Craig Hallum upgraded Nokia Oyj from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 17th. Northland Securities reiterated an "outperform" rating and set a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. Finally, Danske raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nokia Oyj currently has a consensus rating of "Hold" and a consensus price target of $4.56.

Nokia Oyj Trading Down 0.6 %

NYSE:NOK traded down $0.03 on Friday, reaching $4.77. The stock had a trading volume of 22,097,522 shares, compared to its average volume of 15,684,838. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.82. The company has a market cap of $26.34 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 6.07 and a beta of 1.12. The firm's fifty day moving average is $4.36 and its two-hundred day moving average is $3.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Maverick Capital Ltd. acquired a new position in Nokia Oyj in the 2nd quarter worth $1,240,000. PDS Planning Inc boosted its holdings in Nokia Oyj by 46.8% in the first quarter. PDS Planning Inc now owns 33,943 shares of the technology company's stock valued at $120,000 after purchasing an additional 10,815 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Nokia Oyj by 98.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company's stock valued at $6,193,000 after purchasing an additional 867,297 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in Nokia Oyj by 62.3% during the 1st quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company's stock worth $63,000 after purchasing an additional 6,768 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Nokia Oyj in the 1st quarter valued at approximately $35,000. 5.28% of the stock is currently 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.