Nokia Oyj (NOK) Short Interest Update
Nokia Oyj (NYSE:NOK) was the target of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 20,038,844 shares, a decline of 21.3% from the May 15th total of 25,456,754 shares. Based on an average trading volume of 20,524,529 shares, the short-interest ratio is currently 1.0 days.
Several analysts have commented on the stock. Vetr raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating and set a $5.80 price objective on the stock in a research report on Thursday, February 23rd. Zacks Investment Research lowered shares of Nokia Oyj from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Nokia Oyj in a research report on Thursday, April 27th. Canaccord Genuity reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Nokia Oyj in a research report on Tuesday, March 7th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Nokia Oyj in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. Nokia Oyj has an average rating of “Hold” and a consensus target price of $10.05.
Nokia Oyj (NYSE NOK) opened at 6.40 on Friday. Nokia Oyj has a 1-year low of $4.04 and a 1-year high of $6.65. The stock’s market cap is $36.37 billion. The firm has a 50-day moving average of $6.26 and a 200-day moving average of $5.32.
Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, April 27th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Oyj had a negative net margin of 8.13% and a negative return on equity of 9.64%. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Analysts expect that Nokia Oyj will post $0.24 EPS for the current fiscal year.
The firm also recently announced a dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were issued a $0.1824 dividend. The ex-dividend date was Tuesday, May 23rd. Nokia Oyj’s dividend payout ratio (DPR) is presently -242.84%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Levin Capital Strategies L.P. raised its position in Nokia Oyj by 28.0% in the fourth quarter. Levin Capital Strategies L.P. now owns 51,467,474 shares of the technology company’s stock worth $247,559,000 after buying an additional 11,259,027 shares during the period. Alliancebernstein L.P. raised its position in Nokia Oyj by 108.2% in the first quarter. Alliancebernstein L.P. now owns 20,815,648 shares of the technology company’s stock worth $112,821,000 after buying an additional 10,817,897 shares during the period. Stelliam Investment Management LP acquired a new position in Nokia Oyj during the first quarter worth $34,268,000. Alyeska Investment Group L.P. raised its position in Nokia Oyj by 111.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 11,049,990 shares of the technology company’s stock worth $53,150,000 after buying an additional 5,827,941 shares during the period. Finally, Ariel Investments LLC raised its position in Nokia Oyj by 21.1% in the first quarter. Ariel Investments LLC now owns 32,372,988 shares of the technology company’s stock worth $175,462,000 after buying an additional 5,650,498 shares during the period. 5.87% of the stock is owned by hedge funds and other institutional investors.
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About Nokia Oyj
Nokia Corporation is 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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