An interesting stock that came up in some of our conversations today is Nokia Corporation (NYSE:NOK). At current price of $4.2, the shares have already added 0.14 points (3.33% higher) from its previous close of $4.06. Should you buy or avoid them? The stock sets an active trading volume day with a reported 7505533 contracts so far this session. NOK shares had a relatively better volume day versus average trading capacity of 30.48 million shares, but with a 5.38 billion float and a 1% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NOK stock indicates that the average analyst price target is $4.61 per share. This means the stock has a potential increase of 9.76% from where the NOK share price has been trading recently.
During the recent trading session for Nokia Corporation (NYSE:NOK), the company witnessed their stock rise $0.14 over a week and surge $0.56 from the price 20 days ago. When compared to their established 52-week high of $6.65, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/30/19. The recent low of $3.33 stood for a -36.92% since 11/14/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.24 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Nokia Corporation, the two-week RSI stands at 80.1. This figure suggests that NOK stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current NOK readings is similarly very revealing as it has a stochastic reading of 89.7% at this stage. This figure means that NOK share price today is being oversold.
Technical chart claims that Nokia Corporation (NOK) would settle between $4.11/share to $4.15/share level. However, if the stock price goes below the $4.01 mark, then the market for Nokia Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $3.95 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.05. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James raised their recommendation on shares of NOK from Outperform to Strong Buy in their opinion released on January 06. Credit Suisse analysts have lowered their rating of Nokia Corporation (NYSE:NOK) stock from Outperform to Neutral in a separate flash note issued to investors on October 29. Analysts at JP Morgan lowered the stock to a Neutral call from its previous Overweight recommendation, in a research note that dated back to October 25.
NOK equity has an average rating of 2.63, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 4 analysts rated Nokia Corporation (NYSE:NOK) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NOK stock price is currently trading at 15.32X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 35.3. Nokia Corporation current P/B ratio of 1.4 means it is trading at a discount against its industry’s 3.7.
Nokia Corporation (NOK)’s current-quarter revenues are projected to climb by nearly -4.3% to hit $7.5 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -2.4% from $26.62 billion to a noteworthy $25.98 billion. At the other end of the current quarter income statement, Nokia Corporation is expected to see its adjusted earnings surge by roughly -6.7% to hit $0.14 per share. For the fiscal year, NOK’s earnings are projected to climb by roughly -18.5% to hit $0.22 per share.