StockNews.com Upgrades Nokia Oyj (NYSE:NOK) to “Strong-Buy”

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.

A number of other research firms also recently commented on NOK. Northland Securities reiterated an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. Craig Hallum lifted their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.86.

Nokia Oyj Trading Down 3.9 %

NOK opened at $4.51 on Thursday. The stock has a market capitalization of $24.56 billion, a PE ratio of 56.31, a P/E/G ratio of 5.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $4.95. The firm’s fifty day moving average price is $4.41 and its 200 day moving average price is $4.30.

Institutional Investors Weigh In On Nokia Oyj

A number of hedge funds have recently added to or reduced their stakes in NOK. Truist Financial Corp increased its holdings in shares of 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 boosted its position in shares of Nokia Oyj by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock worth $392,000 after buying an additional 2,776 shares during the period. Caprock Group LLC grew its holdings in Nokia Oyj by 5.5% in the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock worth $252,000 after buying an additional 3,023 shares in the last quarter. Bleakley Financial Group LLC increased its position 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 valued at $59,000 after acquiring an additional 3,199 shares during the period. Finally, Profund Advisors LLC raised its stake in Nokia Oyj by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 115,950 shares of the technology company’s stock valued at $438,000 after acquiring an additional 3,349 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.

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.