Nokia (NYSE:NOK) Shares Gap Down – Should You Sell?

Nokia Corporation (NYSE:NOK) shares gapped down before the market opened on Wednesday . The stock had previously closed at $6.64, but opened at $6.24. Nokia shares last traded at $6.1450, with a volume of 32,035,845 shares traded.

Wall Street Analyst Weigh In

NOK has been the topic of several analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Nokia in a research note on Tuesday, October 28th. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday. BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Wednesday, September 3rd. BNP Paribas upgraded Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target for the company in a research note on Wednesday, September 3rd. Finally, New Street Research set a $6.57 price objective on Nokia in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.97.

Nokia Stock Up 1.2%

The company has a market cap of $31.96 billion, a PE ratio of 33.00 and a beta of 0.84. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $5.76 and its 200 day moving average is $5.14.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Nokia had a return on equity of 8.31% and a net margin of 4.65%.Nokia’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. As a group, analysts predict that Nokia Corporation will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia

Several institutional investors have recently bought and sold shares of NOK. Envestnet Asset Management Inc. increased its holdings in shares of Nokia by 17.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 267,219 shares of the technology company’s stock valued at $1,408,000 after acquiring an additional 39,441 shares during the period. Private Advisor Group LLC raised its stake in shares of Nokia by 30.7% during the 1st quarter. Private Advisor Group LLC now owns 59,473 shares of the technology company’s stock valued at $313,000 after buying an additional 13,953 shares during the last quarter. SYM FINANCIAL Corp purchased a new stake in shares of Nokia in the first quarter worth about $56,000. Advisor OS LLC grew its holdings in Nokia by 10.9% during the first quarter. Advisor OS LLC now owns 33,298 shares of the technology company’s stock worth $175,000 after acquiring an additional 3,275 shares during the period. Finally, Assetmark Inc. raised its position in Nokia by 763.7% during the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock valued at $43,000 after acquiring an additional 7,286 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.