Summit Global Investments Buys Shares of 115,186 Nokia Oyj (NYSE:NOK)

Summit Global Investments acquired a new position in shares of Nokia Oyj (NYSE:NOK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 115,186 shares of the technology company’s stock, valued at approximately $510,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. PEAK6 Investments LLC acquired a new position in shares of Nokia Oyj during the 3rd quarter worth about $45,000. Foundations Investment Advisors LLC acquired a new position in Nokia Oyj during the fourth quarter valued at approximately $45,000. D.A. Davidson & CO. bought a new stake in Nokia Oyj in the fourth quarter valued at approximately $46,000. Wedmont Private Capital acquired a new stake in Nokia Oyj in the fourth quarter worth $47,000. Finally, Wealthstream Advisors Inc. bought a new position in shares of Nokia Oyj during the fourth quarter worth $49,000. Institutional investors own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NOK shares. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their price target on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a research report on Friday, February 21st. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Craig Hallum raised their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock opened at $5.34 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The firm has a market cap of $29.09 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. The stock’s 50-day moving average is $4.90 and its 200-day moving average is $4.59. Nokia Oyj has a one year low of $3.29 and a one year high of $5.48.

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

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.