Nokia Oyj (NYSE:NOK) Sees Large Volume Increase – Should You Buy?

Nokia Oyj (NYSE:NOK) shares saw unusually-high trading volume on Tuesday . Approximately 28,557,307 shares changed hands during trading, an increase of 81% from the previous session’s volume of 15,805,476 shares.The stock last traded at $4.22 and had previously closed at $4.46.

Analyst Ratings Changes

NOK has been the subject of a number of recent research reports. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered their price objective on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research report on Monday, October 21st. Finally, Northland Securities reissued an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.56.

Nokia Oyj Stock Down 2.7 %

The firm’s fifty day moving average is $4.47 and its 200-day moving average is $4.11. The stock has a market capitalization of $22.55 billion, a PE ratio of 53.00, a PEG ratio of 5.37 and a beta of 1.12. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The business had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, equities research analysts predict that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Trading of Nokia Oyj

A number of large investors have recently made changes to their positions in NOK. Truist Financial Corp grew its stake in Nokia Oyj by 15.7% in the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after acquiring an additional 2,710 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Nokia Oyj by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock valued at $392,000 after purchasing an additional 2,776 shares during the period. Caprock Group LLC increased its stake in Nokia Oyj by 5.5% in the third quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock valued at $252,000 after purchasing an additional 3,023 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Nokia Oyj by 3.9% during the second 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. Finally, Bleakley Financial Group LLC boosted its stake in Nokia Oyj by 30.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock worth $59,000 after buying an additional 3,199 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Company Profile

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.