Nokia Corp. (NYSE:NOK) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 38,857,409 shares, a decline of 10.8% from the September 15th total of 43,586,411 shares. Based on an average trading volume of 7,917,958 shares, the short-interest ratio is currently 4.9 days.
Several research analysts have recently issued reports on NOK shares. Goldman Sachs Group Inc. upgraded shares of Nokia Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $5.54 to $5.60 in a report on Wednesday, June 29th. Credit Suisse Group AG restated an “outperform” rating and issued a $5.01 target price (down previously from $5.09) on shares of Nokia Corp. in a report on Thursday, October 13th. Vetr upgraded shares of Nokia Corp. from a “buy” rating to a “strong-buy” rating and set a $6.18 target price for the company in a report on Monday, June 27th. Zacks Investment Research cut shares of Nokia Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 13th. Finally, Bank of America Corp. restated a “buy” rating on shares of Nokia Corp. in a report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $6.73.
Several institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. increased its position in shares of Nokia Corp. by 94.4% in the second quarter. Tocqueville Asset Management L.P. now owns 2,181,695 shares of the technology company’s stock valued at $12,414,000 after buying an additional 1,059,645 shares during the period. Societe Generale purchased a new position in shares of Nokia Corp. during the second quarter valued at about $924,000. Bank of Montreal Can purchased a new position in shares of Nokia Corp. during the second quarter valued at about $454,000. Blair William & Co. IL purchased a new position in shares of Nokia Corp. during the second quarter valued at about $144,000. Finally, Stoneridge Investment Partners LLC increased its position in shares of Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock valued at $3,749,000 after buying an additional 98,194 shares during the period. 4.28% of the stock is owned by institutional investors.
Shares of Nokia Corp. (NYSE:NOK) opened at 4.97 on Tuesday. The company has a 50-day moving average of $5.58 and a 200-day moving average of $5.65. Nokia Corp. has a 52 week low of $4.88 and a 52 week high of $7.63. The firm has a market capitalization of $28.68 billion, a PE ratio of 27.46 and a beta of 1.47.
Nokia Corp. (NYSE:NOK) last released its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The business earned $5.58 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the firm earned $0.09 EPS. The business’s revenue for the quarter was up 91.3% compared to the same quarter last year. On average, equities analysts forecast that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
About Nokia Corp.
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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