Drive Wealth Management LLC Makes New $48,000 Investment in Nokia Oyj (NYSE:NOK)

Drive Wealth Management LLC bought a new position in Nokia Oyj (NYSE:NOK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,603 shares of the technology company’s stock, valued at approximately $48,000.

Other hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its position in Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Nokia Oyj during the 1st quarter valued at about $35,000. Paradigm Asset Management Co. LLC acquired a new position in shares of Nokia Oyj during the 3rd quarter valued at about $37,000. Capital Management Associates Inc acquired a new position in shares of Nokia Oyj during the 4th quarter valued at about $34,000. Finally, Tieton Capital Management LLC acquired a new position in shares of Nokia Oyj during the 4th quarter valued at about $34,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Stock Performance

NOK traded up $0.01 during midday trading on Friday, reaching $3.65. The company’s stock had a trading volume of 11,129,679 shares, compared to its average volume of 15,969,363. The stock has a market cap of $20.56 billion, a P/E ratio of 22.81, a PEG ratio of 1.14 and a beta of 1.09. The company has a fifty day simple moving average of $3.55 and a 200 day simple moving average of $3.47. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.36.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.39% and a net margin of 3.90%. The firm had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the prior year, the business posted $0.16 EPS. Research analysts expect that Nokia Oyj will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOK has been the topic of a number of analyst reports. StockNews.com raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, April 19th. BNP Paribas initiated coverage on Nokia Oyj in a report on Friday, January 12th. They set a “neutral” rating on the stock. Barclays lowered Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and a consensus price target of $4.42.

About Nokia Oyj

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.