Nokia (NOK) Short Interest Up 19.0% in March

Nokia (NYSE:NOK) was the target of a significant growth in short interest in March. As of March 29th, there was short interest totalling 24,585,105 shares, a growth of 19.0% from the March 15th total of 20,661,286 shares. Based on an average daily volume of 14,814,538 shares, the short-interest ratio is presently 1.7 days. Approximately 0.4% of the company’s stock are short sold.

A number of hedge funds have recently modified their holdings of the business. Levin Capital Strategies L.P. boosted its stake in Nokia by 25.2% in the fourth quarter. Levin Capital Strategies L.P. now owns 54,775,642 shares of the technology company’s stock valued at $255,254,000 after acquiring an additional 11,016,150 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Nokia during the fourth quarter valued at approximately $54,836,000. Brandes Investment Partners LP raised its holdings in shares of Nokia by 38.8% during the fourth quarter. Brandes Investment Partners LP now owns 10,247,013 shares of the technology company’s stock valued at $47,751,000 after buying an additional 2,867,023 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Nokia by 47.8% during the fourth quarter. Renaissance Technologies LLC now owns 7,673,680 shares of the technology company’s stock valued at $35,759,000 after buying an additional 2,482,900 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in shares of Nokia by 24.5% during the fourth quarter. Tocqueville Asset Management L.P. now owns 5,001,022 shares of the technology company’s stock valued at $23,305,000 after buying an additional 984,731 shares during the last quarter. Institutional investors own 6.65% of the company’s stock.

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Shares of NOK stock opened at $5.86 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.56 and a quick ratio of 1.35. Nokia has a 52 week low of $4.51 and a 52 week high of $6.65. The company has a market capitalization of $31,085.91, a price-to-earnings ratio of 15.84, a P/E/G ratio of 2.41 and a beta of 1.15.

Nokia (NYSE:NOK) last issued its earnings results on Thursday, February 1st. The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. Nokia had a positive return on equity of 10.80% and a negative net margin of 6.37%. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.41 billion. During the same period in the previous year, the firm posted $0.12 earnings per share. Nokia’s quarterly revenue was down .7% compared to the same quarter last year. analysts predict that Nokia will post 0.31 earnings per share for the current fiscal year.

The business also recently announced a special dividend, which will be paid on Monday, June 18th. Shareholders of record on Friday, June 1st will be paid a $0.2364 dividend. The ex-dividend date is Thursday, May 31st. This represents a yield of 3.5%. Nokia’s payout ratio is currently 35.14%.

A number of research firms recently commented on NOK. Vetr downgraded Nokia from a “strong-buy” rating to a “hold” rating and set a $5.54 price target for the company. in a research note on Monday, February 5th. Goldman Sachs reiterated a “neutral” rating on shares of Nokia in a research note on Thursday, January 18th. Credit Suisse Group downgraded Nokia from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $4.89 to $5.00 in a research note on Friday, January 5th. Canaccord Genuity reiterated a “hold” rating and issued a $6.00 price target on shares of Nokia in a research note on Thursday, February 1st. Finally, Zacks Investment Research upgraded Nokia from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.61.

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About Nokia

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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