Traders Buy Nokia Corp. (NOK) on Weakness

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Traders bought shares of Nokia Corp. (NYSE:NOK) on weakness during trading hours on Monday. $17.99 million flowed into the stock on the tick-up and $9.20 million flowed out of the stock on the tick-down, for a money net flow of $8.79 million into the stock. Of all companies tracked, Nokia Corp. had the 6th highest net in-flow for the day. Nokia Corp. traded down ($0.02) for the day and closed at $5.68
Several research analysts have recently issued reports on NOK shares. Canaccord Genuity upgraded Nokia Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $5.50 to $7.00 in a research report on Monday, May 16th. Credit Agricole SA upgraded Nokia Corp. from an “underperform” rating to an “outperform” rating and reduced their price target for the stock from $6.81 to $5.36 in a research report on Wednesday, May 25th. Vetr lowered Nokia Corp. from a “strong-buy” rating to a “buy” rating and set a $6.18 price target on the stock. in a research report on Wednesday, May 25th. TheStreet lowered Nokia Corp. to a “hold” rating in a research report on Thursday, May 26th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Nokia Corp. in a report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $7.18.
The firm has a market cap of $32.78 billion, a PE ratio of 31.21 and a beta of 1.49. The firm has a 50-day moving average price of $5.71 and a 200 day moving average price of $5.74.

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Nokia Corp. (NYSE:NOK) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.80 billion. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The business’s revenue was up 91.3% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. On average, analysts forecast that Nokia Corp. will post $0.21 EPS for the current year.
About Nokia Corp.
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.

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