Nokia (NYSE:NOK) Earns Overweight Rating from Analysts at Morgan Stanley

Analysts at Morgan Stanley initiated coverage on shares of Nokia (NYSE:NOK) in a research report issued on Monday,Benzinga reports. The firm set an “overweight” rating and a $8.00 price target on the technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 13.15% from the company’s current price.

NOK has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Wednesday, October 15th. Raymond James Financial reiterated an “outperform” rating on shares of Nokia in a research note on Thursday, October 23rd. Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Northland Securities set a $7.50 target price on Nokia in a research report on Friday, October 24th. Finally, New Street Research set a $6.57 price target on Nokia in a research report on Thursday, November 20th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.01.

Nokia Price Performance

Shares of NYSE:NOK opened at $7.07 on Monday. Nokia has a twelve month low of $4.00 and a twelve month high of $8.19. The stock’s 50 day moving average is $6.49 and its 200-day moving average is $5.65. The company has a quick ratio of 1.36, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 54.39, a PEG ratio of 2.45 and a beta of 0.81.

Institutional Trading of Nokia

A number of hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its stake in Nokia by 50.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after purchasing an additional 14,482,665 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Nokia by 35,010.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after buying an additional 12,619,099 shares during the last quarter. Pzena Investment Management LLC grew its position in Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after buying an additional 11,667,677 shares during the period. ARGA Investment Management LP purchased a new stake in Nokia during the fourth quarter worth about $49,523,000. Finally, Folketrygdfondet raised its position in Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after acquiring an additional 6,950,487 shares during the period. 5.28% of the stock is currently owned by institutional investors.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.