Nokia Oyj Sees Unusually High Options Volume (NYSE:NOK)

Nokia Oyj (NYSE:NOKGet Rating) was the target of some unusual options trading activity on Monday. Stock investors purchased 18,604 call options on the company. This is an increase of 50% compared to the average volume of 12,410 call options.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock opened at $4.84 on Tuesday. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 5.98 and a beta of 0.90. The firm’s 50-day moving average is $4.71 and its 200 day moving average is $4.74. Nokia Oyj has a 1 year low of $4.08 and a 1 year high of $6.26. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.60 and a quick ratio of 1.36.

Nokia Oyj (NYSE:NOKGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The technology company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Nokia Oyj had a net margin of 7.45% and a return on equity of 12.13%. Sell-side analysts anticipate that Nokia Oyj will post 0.42 EPS for the current fiscal year.

Nokia Oyj Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Tuesday, October 25th were paid a $0.0136 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Monday, October 24th. Nokia Oyj’s payout ratio is 14.29%.

Hedge Funds Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. lifted its stake in Nokia Oyj by 4.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 121,224 shares of the technology company’s stock valued at $518,000 after acquiring an additional 5,565 shares during the period. Fulton Bank N.A. bought a new position in Nokia Oyj during the 3rd quarter valued at about $88,000. Managed Asset Portfolios LLC lifted its stake in Nokia Oyj by 2.5% during the 2nd quarter. Managed Asset Portfolios LLC now owns 3,833,598 shares of the technology company’s stock valued at $17,673,000 after acquiring an additional 94,212 shares during the period. Woodline Partners LP lifted its stake in Nokia Oyj by 74.2% during the 1st quarter. Woodline Partners LP now owns 3,716,806 shares of the technology company’s stock valued at $20,294,000 after acquiring an additional 1,583,596 shares during the period. Finally, Castleview Partners LLC lifted its stake in Nokia Oyj by 361.0% during the 2nd quarter. Castleview Partners LLC now owns 5,762 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 4,512 shares during the period. Institutional investors own 7.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOK. StockNews.com raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, November 1st. Credit Suisse Group raised shares of Nokia Oyj from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 15th. Societe Generale reduced their target price on shares of Nokia Oyj from €5.80 ($6.24) to €5.40 ($5.81) and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Redburn Partners began coverage on shares of Nokia Oyj in a research report on Monday, September 26th. They issued a “buy” rating and a $6.70 target price on the stock. Finally, Raymond James reduced their target price on shares of Nokia Oyj from $7.00 to $6.50 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.81.

Nokia Oyj Company Profile

(Get Rating)

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

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