why Nokia Oyj [NOK] is a Good Choice for Investors After New Price Target of $6.83

Nokia Oyj [NYSE: NOK] price plunged by -3.94 percent to reach at -$0.2. The company report on August 26, 2022 that Nokia Corporation: Repurchase of own shares on 26.08.2022.


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Nokia CorporationStock Exchange Release26 August 2022 at 21:00 EEST.

A sum of 43925093 shares traded at recent session while its average daily volume was at 28.28M shares. Nokia Oyj shares reached a high of $5.06 and dropped to a low of $4.87 until finishing in the latest session at $4.87.

The one-year NOK stock forecast points to a potential upside of 28.7. The average equity rating for NOK stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Nokia Oyj [NOK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOK shares is $6.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOK stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Kepler have made an estimate for Nokia Oyj shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 22, 2022. The new note on the price target was released on June 14, 2022, representing the official price target for Nokia Oyj stock.

The Average True Range (ATR) for Nokia Oyj is set at 0.12, with the Price to Sales ratio for NOK stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 1.62. Price to Free Cash Flow for NOK in the course of the last twelve months was 24.87 with Quick ratio for the last quarter at 1.40.

NOK Stock Performance Analysis:

Nokia Oyj [NOK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.37. With this latest performance, NOK shares dropped by -6.35% in over the last four-week period, additionally sinking by -10.48% over the last 6 months – not to mention a drop of -18.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOK stock in for the last two-week period is set at 42.26, with the RSI for the last a single of trading hit 37.07, and the three-weeks RSI is set at 45.42 for Nokia Oyj [NOK]. The present Moving Average for the last 50 days of trading for this stock 4.90, while it was recorded at 4.96 for the last single week of trading, and 5.31 for the last 200 days.

Insight into Nokia Oyj Fundamentals:

Nokia Oyj’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.60.

NOK Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nokia Oyj go to 14.24%.

Nokia Oyj [NOK] Insider Position Details

Positions in Nokia Oyj stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 177 institutional holders increased their position in Nokia Oyj [NYSE:NOK] by around 74,220,048 shares. Additionally, 230 investors decreased positions by around 83,378,790 shares, while 147 investors held positions by with 258,194,381 shares. The mentioned changes placed institutional holdings at 415,793,219 shares, according to the latest SEC report filing. NOK stock had 39 new institutional investments in for a total of 4,099,604 shares, while 50 institutional investors sold positions of 8,397,609 shares during the same period.

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