Short Interest in Nokia Corporation (NYSE:NOK) Grows By 11.8%

Rodiano Bonacci
Novembre 17, 2017

Previously Nokia Corp (NYSE:NOK) reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. They now have $4.91 price target on the technology company's stock, up from their previous price target of $4.76.

NOK has been the subject of a number of other research reports. Finally, Credit Suisse Group restated a "neutral" rating on shares of Nokia Corporation in a report on Sunday, July 30th. Canaccord Genuity decreased their price objective on Nokia Corporation from $7.00 to $5.50 and set a "hold" rating for the company in a report on Friday, October 27th. The firm earned "Hold" rating on Wednesday, July 26 by BMO Capital Markets. Finally, Renaissance Technologies LLC boosted its stake in Nokia Corporation by 705.5% in the second quarter.

Nokia Corporation (NYSE:NOK) was the target of a significant growth in short interest during the month of October.

In terms of Buy, Sell or Hold recommendations, Nokia Corp (NYSE:NOK) has analysts' mean recommendation of 2.7. The company presently has a consensus rating of "Hold" and an average price target of $5.75.

Nokia Corporation (NYSE:NOK) shows upbeat performance moved up 1.65% to close at $4.92.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -15.38%, and has a solid year to date (YTD) performance of 2.29% which means that the stock is constantly adding to its value from the previous fiscal year end price. The firm has a market cap of $28,750.00, a P/E ratio of 13.42, a P/E/G ratio of 1.09 and a beta of 1.25. Nokia Corporation has a 12 month low of $4.10 and a 12 month high of $6.65.

Nokia Corporation (NYSE:NOK) last announced its earnings results on Thursday, October 26th.

For the current quarter, 9 analysts are projecting a mean EPS of $0.1/share. Nokia Corporation had a positive return on equity of 9.88% and a negative net margin of 2.09%. The company had revenue of $5.54 billion during the quarter, compared to analysts' expectations of $5.64 billion. The institutional investor owned 455,078 shares of the technology company's stock after purchasing an additional 24,313 shares during the quarter.

Analysts believe that the company has the potential to earn average revenue of $7.23 Billion for the current quarter.

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Institutional investors have recently modified their holdings of the company. As of the end of the quarter Greenleaf Trust had bought 18,163 shares growing its holdings by 54.1%. Stevens Capital Management LP raised its position in shares of Nokia Corporation by 105.0% during the third quarter. Tocqueville Asset Management L.P. now owns 4,016,291 shares of the technology company's stock worth $24,017,000 after acquiring an additional 589,445 shares during the last quarter. TCW Group Inc. now owns 6,074,746 shares of the technology company's stock valued at $36,327,000 after acquiring an additional 1,429,672 shares during the period. Cutter & CO Brokerage Inc. raised its holdings in Nokia Corporation by 8.5% during the second quarter. Northern Trust Corp now owns 5,811,715 shares of the technology company's stock valued at $35,801,000 after acquiring an additional 34,906 shares during the period.

While under theory that management are shareholders, many value investors look for stocks with a high percent of insider ownership, because they will act in its own self interest, as well create shareholder value in the long-term.

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market.

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