Short Interest in Nokia Oyj (NOK) Increases By 12.2%
Nokia Oyj (NYSE:NOK) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 33,210,877 shares, a growth of 12.2% from the January 12th total of 29,598,713 shares. Based on an average daily trading volume, of 17,172,945 shares, the days-to-cover ratio is currently 1.9 days.
Shares of Nokia Oyj (NOK) traded up $0.14 during mid-day trading on Wednesday, hitting $5.65. The company’s stock had a trading volume of 23,105,974 shares, compared to its average volume of 20,313,883. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 1.34. Nokia Oyj has a 52 week low of $4.51 and a 52 week high of $6.65. The company has a market cap of $32,800.00, a P/E ratio of -17.66, a P/E/G ratio of 2.37 and a beta of 1.31.
Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.04. Nokia Oyj had a positive return on equity of 10.80% and a negative net margin of 6.37%. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.41 billion. During the same quarter last year, the company earned $0.12 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. equities analysts expect that Nokia Oyj will post 0.31 EPS for the current year.
A number of analysts have issued reports on NOK shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Oyj in a report on Friday, October 27th. Canaccord Genuity lowered their target price on Nokia Oyj from $7.00 to $5.50 and set a “hold” rating on the stock in a report on Friday, October 27th. Argus lowered Nokia Oyj from a “buy” rating to a “hold” rating and raised their target price for the company from $4.76 to $4.91 in a report on Monday, October 30th. BNP Paribas raised Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, November 7th. Finally, Credit Suisse Group lowered Nokia Oyj from an “outperform” rating to a “neutral” rating and raised their target price for the company from $4.89 to $5.00 in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. Nokia Oyj has a consensus rating of “Hold” and an average price target of $5.74.
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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