Investors purchased shares of Nokia Corporation (NYSE:NOK) on weakness during trading on Thursday. $68.79 million flowed into the stock on the tick-up and $33.51 million flowed out of the stock on the tick-down, for a money net flow of $35.28 million into the stock. Of all companies tracked, Nokia Corporation had the 21st highest net in-flow for the day. Nokia Corporation traded down ($1.29) for the day and closed at $4.76
A number of equities research analysts have issued reports on the company. BMO Capital Markets set a $6.00 price target on Nokia Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. J P Morgan Chase & Co restated a “buy” rating on shares of Nokia Corporation in a research note on Friday. Canaccord Genuity cut their price target on Nokia Corporation from $7.00 to $5.50 and set a “hold” rating for the company in a research note on Friday. BidaskClub downgraded Nokia Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Vetr upgraded Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.22 price target for the company in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $5.73.
The stock’s market cap is $27.75 billion. The stock has a 50 day moving average of $5.92 and a 200 day moving average of $6.10.
Nokia Corporation (NYSE:NOK) last released its earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.64 billion. Nokia Corporation had a positive return on equity of 9.65% and a negative net margin of 2.09%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. Equities analysts predict that Nokia Corporation will post $0.30 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Renaissance Technologies LLC lifted its position in shares of Nokia Corporation by 705.5% in the second quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock valued at $20,506,000 after acquiring an additional 2,915,600 shares in the last quarter. Teachers Advisors LLC lifted its position in Nokia Corporation by 53.3% during the second quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock worth $42,796,000 after buying an additional 2,414,440 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Nokia Corporation during the second quarter worth approximately $13,766,000. JPMorgan Chase & Co. lifted its position in Nokia Corporation by 4,241.3% during the second quarter. JPMorgan Chase & Co. now owns 2,223,920 shares of the technology company’s stock worth $13,699,000 after buying an additional 2,172,693 shares in the last quarter. Finally, Capstone Asset Management Co. lifted its position in Nokia Corporation by 203.7% during the second quarter. Capstone Asset Management Co. now owns 1,492,156 shares of the technology company’s stock worth $9,192,000 after buying an additional 1,000,888 shares in the last quarter. Institutional investors and hedge funds own 5.83% of the company’s stock.
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About Nokia Corporation
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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