Nokia Oyj (NYSE:NOK) Reaches New 52-Week High – What’s Next?

Nokia Oyj (NYSE:NOK)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $5.26 and last traded at $5.26, with a volume of 1149705 shares. The stock had previously closed at $5.23.

Analysts Set New Price Targets

NOK has been the subject of several analyst reports. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Craig Hallum upped their price target on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Price Performance

The company has a 50-day simple moving average of $4.76 and a 200-day simple moving average of $4.53. The stock has a market cap of $28.05 billion, a PE ratio of 20.58, a PEG ratio of 6.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Sell-side analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NOK. Crossmark Global Holdings Inc. increased its position in shares of Nokia Oyj by 3.8% in the third quarter. Crossmark Global Holdings Inc. now owns 374,112 shares of the technology company’s stock valued at $1,635,000 after buying an additional 13,701 shares in the last quarter. MQS Management LLC increased its position in shares of Nokia Oyj by 66.6% in the third quarter. MQS Management LLC now owns 40,842 shares of the technology company’s stock valued at $178,000 after buying an additional 16,334 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Nokia Oyj by 60.2% in the third quarter. Natixis Advisors LLC now owns 208,696 shares of the technology company’s stock valued at $912,000 after buying an additional 78,391 shares in the last quarter. Caprock Group LLC increased its position in shares of 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 buying an additional 3,023 shares in the last quarter. Finally, West Family Investments Inc. purchased a new position in shares of Nokia Oyj in the third quarter valued at $115,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.