As this happened, UBS downgraded its Nokia Oyj [NOK] rating to a Neutral from a a Buy in a research note published on Tuesday. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early November with a ‘”an Equal-weight”‘ rating. Barclays began covering NOK with “an Equal weight” recommendation on October 13, 2022. Redburn started covering the stock on September 26, 2022. It rated NOK as “a Buy”.
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Price Performance Review of NOK
On Tuesday, Nokia Oyj [NYSE:NOK] saw its stock jump 0.43% to $4.68. On the same session, the stock had its day’s lowest price of $4.64, but rose to a high of $4.72. Over the last five days, the stock has lost -1.27%. Nokia Oyj shares have risen nearly 0.86% since the year began. Nevertheless, the stocks have fallen -2.70% over the past one year. While a 52-week high of $5.59 was reached on 01/13/23, a 52-week low of $4.08 was recorded on 01/20/23. SMA at 50 days reached $4.73, while 200 days put it at $4.75. A total of 16.04 million shares were traded, compared to the trading of 17.3 million shares in the previous session.
Levels Of Support And Resistance For NOK Stock
The 24-hour chart illustrates a support level at 4.64, which if violated will result in even more drops to 4.60. On the upside, there is a resistance level at 4.72. A further resistance level may holdings at 4.76. The Relative Strength Index (RSI) on the 14-day chart is 47.89, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.67%. Stochastics %K at 42.22% indicates the stock is a holding.
How much short interest is there in Nokia Oyj?
A steep rise in short interest was recorded in Nokia Oyj stocks on Jan 12, 2023, dropping by -0.79 million shares to a total of 12.95 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 13.74 million shares. There was a decline of -6.1%, 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 82,227,018 shares, or roughly 1.46% of the outstanding NOK shares. In other words, the investor’s shares have fallen by -2,298,862 from its previous 13-F filing of 84525880.0. Additionally, Neuberger Berman Investment Advis decreased -2.58% of its stake after which the total value it holdings stand at $137,049,921, while Millennium Management LLC added 54.99% of its stake to hold $127.62 million in the firm. Over the last quarter, Renaissance Technologies LLC purchased 2,176,100 shares of Nokia Oyj, while Arrowstreet Capital LP bought -977,604 shares. At present, Folketrygdfondet is holding 16,638,637 shares valued at $76.54 million. Newton Investment Management Nort owned 15,174,436 shares of the company at the time of its most recent 13F filing, worth $69.8 million.
According to FactSet, Nokia Oyj’s share price will average $6.34 in the next year, based on opinions of analysts polled by the firm. This is up nearly 35.19 percent from its previous closing price of $4.66. Analysts expect Nokia Oyj stock to reach the higher price of $8.24, while the lowest price estimate is $4.94. However, 32 analysts have rated NOK stock as an Overweight in their predictions for 2023.