Nokia Corp (NOK) Short Interest Update

Nokia Corp (NOK) Short Interest Update

Nokia Corp (NYSE:NOK) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 33,977,836 shares, a drop of 7.5% from the February 28th total of 36,723,502 shares. Based on an average trading volume of 10,205,105 shares, the short-interest ratio is currently 3.3 days.

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of Nokia Corp by 8.0% in the fourth quarter. Franklin Resources Inc. now owns 74,974,457 shares of the technology company’s stock worth $360,627,000 after buying an additional 5,568,588 shares in the last quarter. Levin Capital Strategies L.P. increased its position in shares of Nokia Corp 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 in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Nokia Corp during the fourth quarter worth $68,459,000. Alyeska Investment Group L.P. increased its position in shares of Nokia Corp 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 in the last quarter. Finally, Emerald Acquisition Ltd. increased its position in shares of Nokia Corp by 102.5% in the third quarter. Emerald Acquisition Ltd. now owns 10,820,534 shares of the technology company’s stock worth $62,650,000 after buying an additional 5,478,149 shares in the last quarter. Institutional investors own 5.71% of the company’s stock.

NOK has been the topic of several research analyst reports. Vetr cut shares of Nokia Corp from a “strong-buy” rating to a “buy” rating and set a $5.11 target price on the stock. in a research report on Tuesday, December 6th. Goldman Sachs Group Inc reissued a “buy” rating and issued a $5.80 target price on shares of Nokia Corp in a research report on Thursday, December 15th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Nokia Corp in a research report on Friday, December 23rd. Oppenheimer Holdings Inc. cut shares of Nokia Corp from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a research report on Tuesday, January 3rd. Finally, Barclays PLC reissued a “buy” rating on shares of Nokia Corp in a research report on Tuesday, January 10th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.62.

Nokia Corp (NYSE:NOK) opened at 5.42 on Friday. Nokia Corp has a 52-week low of $4.04 and a 52-week high of $6.31. The stock’s 50 day moving average is $5.25 and its 200-day moving average is $4.95. The firm’s market capitalization is $31.01 billion.

Nokia Corp (NYSE:NOK) last issued its earnings results on Thursday, February 2nd. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $7.35 billion. Nokia Corp had a positive return on equity of 6.17% and a negative net margin of 2.96%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. Equities analysts expect that Nokia Corp will post $0.24 earnings per share 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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