Nokia Corporation (NYSE:NOK) Upgraded by Vetr Inc. to Strong-Buy

Vetr upgraded shares of Nokia Corporation (NYSE:NOK) from a buy rating to a strong-buy rating in a report published on Friday morning. They currently have $7.28 target price on the technology company’s stock.

Several other research firms have also recently commented on NOK. Societe Generale initiated coverage on Nokia Corporation in a research report on Wednesday, June 14th. They issued a buy rating on the stock. Canaccord Genuity restated a hold rating and issued a $6.00 target price on shares of Nokia Corporation in a research report on Monday, May 15th. Citigroup Inc. initiated coverage on Nokia Corporation in a research report on Thursday, June 8th. They issued a neutral rating and a $6.00 target price on the stock. Bank of America Corporation restated a neutral rating on shares of Nokia Corporation in a research report on Friday, June 2nd. Finally, BMO Capital Markets restated a hold rating and issued a $5.00 target price on shares of Nokia Corporation in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Nokia Corporation has a consensus rating of Hold and an average price target of $6.26.

Nokia Corporation (NOK) traded down 0.32% during mid-day trading on Friday, hitting $6.31. The company had a trading volume of 7,178,565 shares. The stock’s 50 day moving average price is $6.35 and its 200 day moving average price is $5.44. Nokia Corporation has a 52-week low of $4.04 and a 52-week high of $6.65. The firm’s market cap is $35.86 billion.

Nokia Corporation (NYSE:NOK) last posted its earnings results on Thursday, April 27th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corporation had a negative net margin of 2.82% and a positive return on equity of 6.57%. The business had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the business earned $0.03 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts predict that Nokia Corporation will post $0.25 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. Cutter & CO Brokerage Inc. boosted its stake in shares of Nokia Corporation by 14.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 21,192 shares of the technology company’s stock valued at $115,000 after buying an additional 2,700 shares during the period. Smithbridge Asset Management Inc. DE acquired a new stake in shares of Nokia Corporation during the second quarter valued at approximately $119,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Nokia Corporation during the first quarter valued at approximately $136,000. Searle & CO. acquired a new stake in shares of Nokia Corporation during the fourth quarter valued at approximately $145,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Nokia Corporation during the first quarter valued at approximately $150,000. 5.87% of the stock is owned by institutional investors and hedge funds.

About Nokia Corporation

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

To view Vetr’s full report, visit Vetr’s official website.

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