Goldman Sachs Group Reiterates Neutral Rating for Nokia Oyj (NOK)
Nokia Oyj (NYSE:NOK)‘s stock had its “neutral” rating reaffirmed by equities researchers at Goldman Sachs Group in a report released on Thursday, MarketBeat reports.
NOK has been the subject of a number of other research reports. BNP Paribas cut shares of Nokia Oyj from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $5.00 to $3.90 in a research note on Monday, December 4th. Vetr raised shares of Nokia Oyj 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. Argus cut shares of Nokia Oyj from a “buy” rating to a “hold” rating and boosted their target price for the stock from $4.76 to $4.91 in a research note on Monday, October 30th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Nokia Oyj in a research note on Friday, October 27th. Finally, UBS Group reissued a “buy” rating on shares of Nokia Oyj in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $5.51.
Shares of Nokia Oyj (NYSE NOK) remained flat at $$4.84 during trading on Thursday. The stock had a trading volume of 12,564,644 shares, compared to its average volume of 12,190,000. The firm has a market cap of $28,200.00, a price-to-earnings ratio of -48.40, a P/E/G ratio of 1.34 and a beta of 1.29. Nokia Oyj has a 52-week low of $4.50 and a 52-week high of $6.65. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 0.21.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tiedemann Wealth Management LLC purchased a new stake in Nokia Oyj during the 3rd quarter valued at about $114,000. Institute for Wealth Management LLC. purchased a new stake in Nokia Oyj during the 2nd quarter valued at about $116,000. Strategic Global Advisors LLC purchased a new stake in Nokia Oyj during the 3rd quarter valued at about $143,000. CIBC World Markets Inc. grew its stake in Nokia Oyj by 26.7% during the 2nd quarter. CIBC World Markets Inc. now owns 26,594 shares of the technology company’s stock valued at $164,000 after acquiring an additional 5,610 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new stake in Nokia Oyj during the 3rd quarter valued at about $190,000. 5.86% of the stock is owned by institutional investors.
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About Nokia Oyj
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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