Investors 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 investors purchased 12,419 call options on the stock. This is an increase of approximately 19% compared to the average daily volume of 10,408 call options.

Nokia Oyj Stock Up 6.6 %

NYSE:NOK traded up $0.30 during midday trading on Thursday, reaching $4.74. The company had a trading volume of 38,515,707 shares, compared to its average volume of 17,836,439. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $4.95. The firm has a market capitalization of $25.82 billion, a price-to-earnings ratio of 59.31, a PEG ratio of 5.72 and a beta of 1.06. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.32.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. On average, sell-side analysts anticipate that Nokia Oyj will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in Nokia Oyj in the third quarter valued at about $44,000. Alternative Investment Advisors LLC. purchased a new stake in Nokia Oyj in the 2nd quarter valued at approximately $45,000. JGP Wealth Management LLC acquired a new position in Nokia Oyj during the 3rd quarter worth approximately $45,000. Finally, PEAK6 Investments LLC purchased a new position in shares of Nokia Oyj during the 3rd quarter worth approximately $45,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOK has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a research note on Thursday, January 16th. Craig Hallum raised their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their target price for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Finally, Northland Securities restated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.86.

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.