Why Buy stock in Nokia Corporation (NOK)? – Marketing Sentinel

Why Buy stock in Nokia Corporation (NOK)?

Nokia Corporation (NYSE:NOK) has a beta value of 0.75 and has seen 12,265,723 shares traded in the recent trading session. The company, currently valued at $23.68 Billion, closed the recent trade at $4.12 per share which meant it gained $0.05 on the day or 1.23% during that session. The NOK stock price is -137.62% off its 52-week high price of $9.79 and 23.79% above the 52-week low of $3.14. If we look at the company’s 10-day average daily trading volume, we find that it stood at 27.05 Million shares traded. The 3-month trading volume is 96.86 Million shares.

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The consensus among analysts is that Nokia Corporation (NOK) is an Overweight stock at the moment, with a recommendation rating of 2.8. 1 analysts rate the stock as a Sell, while 3 rate it as Overweight. 13 out of 29 have rated it as a Hold, with 12 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.01.

Nokia Corporation (NYSE:NOK) trade information

Sporting 1.23% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Apr 09 when the NOK stock price touched $4.15-0 or saw a rise of 0.48%. Year-to-date, Nokia Corporation shares have moved 5.63%, while the 5-day performance has seen it change 3.25%. Over the past 30 days, the shares of Nokia Corporation (NYSE:NOK) have changed -2.13%. Short interest in the company has seen 24.25 Million shares shorted with days to cover at 0.25.

Wall Street analysts have a consensus price target for the stock at $4.8, which means that the shares’ value could jump 16.5% from the levels at last check today. The projected low price target is $3.51 while the price target rests at a high of $6.08. In that case, then, we find that the latest price level in today’s session is +47.57% off the targeted high while a plunge would see the stock lose -14.81% from the levels at last check today.

Nokia Corporation (NOK) estimates and forecasts

6 analysts offering their estimates for the company have set an average revenue estimate of $5.8 Billion for the current quarter. 7 have an estimated revenue figure of $5.91 Billion for the next quarter concluding in June 01, 2021. Year-ago sales stood $5.4 Billion for this quarter, and analysts expect sales will grow by 7.3% for the current quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -28.4% over the past 5 years. Earnings growth for 2021 is a modest -20.7% while over the next 5 years, the company’s earnings are expected to increase by 12.37%.

Nokia Corporation (NYSE:NOK)’s Major holders

Insiders own 0.01% of the company shares, while shares held by institutions stand at 4.85% with a share float percentage of 4.85%. Investors are also buoyed by the number of investors in a company, with Nokia Corporation having a total of 527 institutions that hold shares in the company. The top two institutional holders are Neuberger Berman Group, LLC with over 28.07 Million shares worth more than $109.75 Million. As of December 30, 2020, Neuberger Berman Group, LLC held 0.49% of shares outstanding.

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The other major institutional holder is Arrowstreet Capital, Limited Partnership, with the holding of over 21.8 Million shares as of December 30, 2020. The firm’s total holdings are worth over $85.24 Million and represent 0.38% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are ETF Series Solutions-Defiance Next Gen Connectivity ETF and AMG Managers Fairpointe Mid Cap Fund. As of March 30, 2021, the former fund manager holds about 0.14% shares in the company for having 8173210 shares of worth $32.37 Million while later fund manager owns 3.1 Million shares of worth $14.13 Million as of January 30, 2021, which makes it owner of about 0.05% of company’s outstanding stock.

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