Traders Purchase High Volume of Call Options on Nokia Oyj (NYSE:NOK)

Nokia Oyj (NYSE:NOK) was the target of some unusual options trading on Thursday. Stock traders purchased 27,461 call options on the company. This represents an increase of 337% compared to the average volume of 6,286 call options.

Nokia Oyj Price Performance

Shares of NOK stock opened at $4.37 on Friday. The stock’s fifty day simple moving average is $4.08 and its 200 day simple moving average is $3.84. Nokia Oyj has a one year low of $2.94 and a one year high of $4.52. The firm has a market cap of $24.13 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 5.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $5.12 billion. On average, analysts expect that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

Large investors have recently added to or reduced their stakes in the company. Alternative Investment Advisors LLC. bought a new position in shares of Nokia Oyj in the second quarter valued at approximately $45,000. Sanctuary Advisors LLC bought a new stake in shares of Nokia Oyj during the second quarter worth $206,000. Truist Financial Corp increased its stake in shares of Nokia Oyj by 15.7% in the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock valued at $76,000 after buying an additional 2,710 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Nokia Oyj by 31.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 15,209 shares of the technology company’s stock valued at $57,000 after buying an additional 3,669 shares during the last quarter. Finally, Creative Planning grew its holdings in Nokia Oyj by 11.3% during the 2nd quarter. Creative Planning now owns 333,066 shares of the technology company’s stock worth $1,259,000 after acquiring an additional 33,745 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NOK has been the subject of a number of recent research reports. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 19th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price objective (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.54.

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.