Investors Purchase High Volume of Nokia Call Options (NYSE:NOK)

Nokia Corporation (NYSE:NOKGet Free Report) was the target of unusually large options trading on Friday. Investors bought 85,204 call options on the stock. This is an increase of approximately 53% compared to the typical daily volume of 55,727 call options.

Analysts Set New Price Targets

NOK has been the subject of several research reports. Morgan Stanley began coverage on Nokia in a research note on Monday, February 9th. They set an “overweight” rating and a $8.00 price target for the company. Raymond James Financial restated an “outperform” rating on shares of Nokia in a research report on Thursday, October 23rd. Kepler Capital Markets raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Jefferies Financial Group raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research report on Monday, December 22nd. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nokia has a consensus rating of “Moderate Buy” and a consensus target price of $7.01.

Read Our Latest Stock Analysis on Nokia

Nokia Trading Up 2.2%

NYSE NOK traded up $0.17 during mid-day trading on Friday, reaching $7.77. 70,782,079 shares of the stock were exchanged, compared to its average volume of 38,726,789. The stock has a market capitalization of $44.61 billion, a PE ratio of 59.76, a PEG ratio of 2.71 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. Nokia has a 1-year low of $4.00 and a 1-year high of $8.19. The business’s fifty day simple moving average is $6.68 and its 200 day simple moving average is $5.82.

Institutional Trading of Nokia

Several institutional investors have recently made changes to their positions in the stock. Analog Century Management LP purchased a new stake in shares of Nokia during the 4th quarter valued at about $104,244,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Nokia by 50.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after purchasing an additional 14,482,665 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Nokia by 35,010.3% in the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after purchasing an additional 12,619,099 shares during the period. Pzena Investment Management LLC grew its holdings in Nokia by 17.0% during the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock valued at $386,387,000 after purchasing an additional 11,667,677 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Nokia by 171.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after buying an additional 11,035,002 shares during the period. 5.28% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Nokia

Here are the key news stories impacting Nokia this week:

Nokia Company Profile

(Get Free Report)

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.

Further Reading

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