Nokia Oyj (NYSE:NOK) Short Interest Update

Nokia Oyj (NYSE:NOK) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 48,180,000 shares, a decline of 35.4% from the February 28th total of 74,630,000 shares. Based on an average daily trading volume, of 19,570,000 shares, the short-interest ratio is currently 2.5 days. Currently, 0.9% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research firms recently commented on NOK. Craig Hallum increased their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research report on Thursday, January 16th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Nokia Oyj presently has a consensus rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Stock Performance

NYSE:NOK traded up $0.02 during trading hours on Friday, reaching $5.22. The stock had a trading volume of 22,353,100 shares, compared to its average volume of 17,152,544. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $5.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The stock has a 50 day simple moving average of $4.96 and a 200 day simple moving average of $4.62. The stock has a market cap of $28.44 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11.

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

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC purchased a new position in Nokia Oyj during the 4th quarter valued at about $45,000. D.A. Davidson & CO. bought a new position in Nokia Oyj in the 4th quarter valued at $46,000. PEAK6 Investments LLC purchased a new position in shares of Nokia Oyj during the 3rd quarter valued at $45,000. Wedmont Private Capital bought a new position in shares of Nokia Oyj in the fourth quarter worth $47,000. Finally, Wealthstream Advisors Inc. purchased a new stake in shares of Nokia Oyj in the fourth quarter worth $49,000. Institutional investors 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.