Nokia Oyj (NYSE:NOK) Given New $4.35 Price Target at JPMorgan Chase & Co.

Nokia Oyj (NYSE:NOK - Get Free Report) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $4.36 to $4.35 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target points to a potential downside of 9.00% from the stock's current price.

A number of other brokerages have also recently issued reports on NOK. Danske raised Nokia Oyj from a "hold" rating to a "buy" rating in a report on Friday. Craig Hallum raised Nokia Oyj from a "hold" rating to a "strong-buy" rating in a report on Thursday. StockNews.com upgraded Nokia Oyj from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Northland Securities restated an "outperform" rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.56.

Nokia Oyj Stock Performance

Nokia Oyj stock traded up $0.03 on Monday, hitting $4.78. The company's stock had a trading volume of 27,702,308 shares, compared to its average volume of 15,541,683. Nokia Oyj has a one year low of $2.94 and a one year high of $4.82. The firm has a market cap of $26.40 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $4.28 and a 200-day moving average price of $3.94.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The business had revenue of $4.81 billion during the quarter, compared to analysts' expectations of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. On average, equities analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Nokia Oyj

Institutional investors have recently made changes to their positions in the stock. Truist Financial Corp grew its position in shares of Nokia Oyj by 15.7% during the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company's stock worth $76,000 after buying an additional 2,710 shares during the period. Banque Cantonale Vaudoise grew its position in shares of Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company's stock valued at $33,000 after purchasing an additional 3,000 shares during the period. V Square Quantitative Management LLC raised its holdings in Nokia Oyj by 3.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company's stock worth $328,000 after buying an additional 3,097 shares during the period. Sivia Capital Partners LLC increased its holdings in Nokia Oyj by 22.0% during the 1st quarter. Sivia Capital Partners LLC now owns 17,678 shares of the technology company's stock worth $63,000 after purchasing an additional 3,184 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Nokia Oyj by 30.8% in the third quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company's stock valued at $59,000 after purchasing an additional 3,199 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

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.