Nokia Oyj (NYSE:NOK) PT Lowered to $4.35 at JPMorgan Chase & Co.

Nokia Oyj (NYSE:NOK) had its price objective cut by research analysts at JPMorgan Chase & Co. from $4.36 to $4.35 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 9.38% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday. Northland Securities restated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday. Finally, StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Nokia Oyj presently has an average rating of “Hold” and an average target price of $4.56.

Nokia Oyj Stock Performance

Shares of NYSE NOK traded up $0.05 during mid-day trading on Monday, hitting $4.80. The company had a trading volume of 9,364,687 shares, compared to its average volume of 15,441,795. The company has a market capitalization of $26.51 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.82. The stock’s 50-day moving average price is $4.28 and its 200-day moving average price is $3.94. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.13.

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

Hedge Funds Weigh In On Nokia Oyj

A number of large investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its stake in Nokia Oyj by 22.3% in the 2nd quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock worth $311,943,000 after purchasing an additional 15,035,360 shares in the last quarter. Sei Investments Co. grew its position in shares of Nokia Oyj by 1.5% during the first quarter. Sei Investments Co. now owns 2,674,435 shares of the technology company’s stock worth $9,467,000 after acquiring an additional 40,264 shares during the last quarter. TSP Capital Management Group LLC boosted its stake in shares of Nokia Oyj by 89.2% during the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock worth $7,715,000 after buying an additional 1,027,600 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Nokia Oyj by 98.3% during the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after purchasing an additional 867,297 shares during the last quarter. Finally, Susquehanna International Securities Ltd. boosted its holdings in shares of Nokia Oyj by 13.9% in the first quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company’s stock valued at $5,795,000 after acquiring an additional 199,590 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.