Nokia (NYSE:NOK) was downgraded by stock analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday.
Several other brokerages have also commented on NOK. Zacks Investment Research lowered Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Vetr upgraded Nokia from a “hold” rating to a “buy” rating and set a $6.37 price objective on the stock in a research report on Monday, September 25th. Canaccord Genuity reduced their price objective on Nokia from $7.00 to $5.50 and set a “hold” rating on the stock in a research report on Friday, October 27th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Nokia in a research report on Friday, October 27th. Finally, Argus lowered Nokia from a “buy” rating to a “hold” rating and increased their price objective for the company from $4.76 to $4.91 in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. Nokia presently has a consensus rating of “Hold” and a consensus price target of $5.88.
Shares of Nokia (NYSE:NOK) traded down $0.06 during midday trading on Monday, reaching $4.95. The company’s stock had a trading volume of 11,760,000 shares, compared to its average volume of 13,507,450. The company has a market cap of $28,889.53, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.59 and a quick ratio of 1.33. Nokia has a fifty-two week low of $4.20 and a fifty-two week high of $6.65.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Institute for Wealth Management LLC. bought a new position in Nokia during the 2nd quarter worth approximately $116,000. Tiedemann Wealth Management LLC bought a new position in Nokia during the 3rd quarter worth approximately $114,000. Geneva Advisors LLC bought a new position in Nokia during the 2nd quarter worth approximately $125,000. Cutter & CO Brokerage Inc. grew its position in Nokia by 8.5% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,993 shares of the technology company’s stock worth $142,000 after acquiring an additional 1,801 shares during the last quarter. Finally, Strategic Global Advisors LLC bought a new position in Nokia during the 3rd quarter worth approximately $143,000. Institutional investors and hedge funds own 5.89% of the company’s stock.
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.
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