Nokia Oyj (NOK) may enjoy gains as insiders got busy in the recent days

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MDNA
MDNA

Following these proceedings, Morgan Stanley initiated its Nokia Oyj [NOK] rating to an Equal-weight in a research note published on Tuesday. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in mid October with a ‘”an Equal weight”‘ rating. Redburn began covering NOK with “Buy” recommendation on September 26, 2022. Credit Suisse revised its rating on September 15, 2022. It rated NOK as “an Outperform” which previously was an “a Neutral”.

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Price Performance Review of NOK

On Tuesday, Nokia Oyj [NYSE:NOK] saw its stock fall -1.73% to $4.55. On the same session, the stock had its day’s lowest price of $4.52, but rose to a high of $4.61. Over the last five days, the stock has lost -5.60%. Nokia Oyj shares have fallen nearly -1.94% since the year began. Nevertheless, the stocks have fallen -17.42% over the past one year. While a 52-week high of $6.00 was reached on 01/13/23, a 52-week low of $4.08 was recorded on 01/20/23. SMA at 50 days reached $4.77, while 200 days put it at $4.80. A total of 37.95 million shares were traded, compared to the trading of 34.21 million shares in the previous session.

Levels Of Support And Resistance For NOK Stock

The 24-hour chart illustrates a support level at 4.51, which if violated will result in even more drops to 4.47. On the upside, there is a resistance level at 4.60. A further resistance level may holdings at 4.65. The Relative Strength Index (RSI) on the 14-day chart is 38.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.45%. Stochastics %K at 16.35% indicates the stock is a buying.

How much short interest is there in Nokia Oyj?

A steep rise in short interest was recorded in Nokia Oyj stocks on Oct 13, 2022, dropping by -7.26 million shares to a total of 14.68 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 21.94 million shares. There was a decline of -49.46%, which implies that there is a negative sentiment for the stock.

Nokia Oyj [NOK] – Who Are The Largest Shareholders?

In filings from Artisan Partners LP, it is revealed that the company now owns 84,525,880 shares, or roughly 1.50% of the outstanding NOK shares. In other words, the investor’s shares have risen by 6,733,618 from its previous 13-F filing of 77792262.0. Additionally, Neuberger Berman Investment Advis decreased -8.37% of its stake after which the total value it holdings stand at $141,900,540, while Arrowstreet Capital LP reduced -15.01% of its stake to hold $94.24 million in the firm. Over the last quarter, Renaissance Technologies LLC purchased 4,409,180 shares of Nokia Oyj, while Millennium Management LLC bought 13,431,188 shares. At present, Folketrygdfondet is holding 15,897,919 shares valued at $73.77 million. SAL Equity Trading GP owned 15,601,319 shares of the company at the time of its most recent 13F filing, worth $72.39 million.

According to FactSet, Nokia Oyj’s share price will average $6.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.26 percent from its previous closing price of $4.63. Analysts expect Nokia Oyj stock to reach the higher price of $8.00, while the lowest price estimate is $4.71. However, 31 analysts have rated NOK stock as an Overweight in their predictions for 2023.

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