Nokia Oyj (NYSE:NOK) Price Target Cut to $6.30 by Analysts at JPMorgan Chase & Co.

Nokia Oyj (NYSE:NOK) had its target price decreased by JPMorgan Chase & Co. from $6.35 to $6.30 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Several other research analysts have also issued reports on NOK. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research note on Thursday, January 16th. Finally, Craig Hallum raised their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj Trading Down 1.1 %

NYSE:NOK opened at $4.94 on Friday. The company has a 50-day moving average price of $4.63 and a 200-day moving average price of $4.44. Nokia Oyj has a 12 month low of $3.29 and a 12 month high of $5.06. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 6.38 and a beta of 1.06.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. Equities analysts predict that Nokia Oyj will post 0.34 EPS for the current year.

Institutional Trading of Nokia Oyj

A number of large investors have recently made changes to their positions in NOK. FMR LLC grew its stake in shares of Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after acquiring an additional 27,755,460 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Nokia Oyj by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company’s stock worth $128,728,000 after buying an additional 18,660,482 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Nokia Oyj during the fourth quarter valued at approximately $53,481,000. Pzena Investment Management LLC lifted its holdings in Nokia Oyj by 10.0% during the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after purchasing an additional 8,261,407 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Nokia Oyj during the fourth quarter valued at approximately $33,348,000. 5.28% of the stock is currently owned by institutional investors.

About Nokia Oyj

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.