Nokia Corporation (NYSE:NOK) gapped down prior to trading on Tuesday . The stock had previously closed at $5.11, but opened at $4.95. Nokia shares last traded at $4.74, with a volume of 18383300 shares trading hands.

Several equities research analysts have recently commented on NOK shares. J P Morgan Chase & Co reissued a “buy” rating on shares of Nokia in a research note on Friday, October 27th. Vetr raised Nokia from a “hold” rating to a “buy” rating and set a $6.37 target price for the company in a research note on Monday, September 25th. UBS reissued a “buy” rating on shares of Nokia in a research note on Wednesday, September 20th. Argus cut Nokia from a “buy” rating to a “hold” rating and lifted their target price for the company from $4.76 to $4.91 in a research note on Monday, October 30th. Finally, Canaccord Genuity lowered their target price on Nokia from $7.00 to $5.50 and set a “hold” rating for the company in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $5.72.

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.59 and a quick ratio of 1.33. The firm has a market capitalization of $28,889.53, a P/E ratio of 13.75, a P/E/G ratio of 1.12 and a beta of 1.27.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Nokia had a positive return on equity of 9.88% and a negative net margin of 2.09%. The business had revenue of $5.54 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. equities research analysts predict that Nokia Corporation will post 0.33 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in NOK. Renaissance Technologies LLC grew its stake in shares of Nokia by 705.5% during the second quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock worth $20,506,000 after purchasing an additional 2,915,600 shares during the period. Teachers Advisors LLC grew its stake in Nokia by 53.3% in the second quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock valued at $42,796,000 after acquiring an additional 2,414,440 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Nokia in the second quarter valued at about $13,766,000. JPMorgan Chase & Co. grew its stake in Nokia by 4,241.3% in the second quarter. JPMorgan Chase & Co. now owns 2,223,920 shares of the technology company’s stock valued at $13,699,000 after acquiring an additional 2,172,693 shares during the period. Finally, TCW Group Inc. grew its stake in Nokia by 30.8% in the third quarter. TCW Group Inc. now owns 6,074,746 shares of the technology company’s stock valued at $36,327,000 after acquiring an additional 1,429,672 shares during the period. 5.89% of the stock is owned by institutional investors and hedge funds.

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Nokia Company Profile

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

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