Today’s Market Runner: Does Nokia Corp (ADR) Have Any Gas After Reaching 52-Week Low?

Today's Market Runner: Does Nokia Corp (ADR) Have Any Gas After Reaching 52 Week Low?

The stock of Nokia Corp (ADR) (NYSE:NOK) hit a new 52-week low and has $3.96 target or 8.00% below today’s $4.30 share price. The 5 months bearish chart indicates high risk for the $24.51B company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $3.96 price target is reached, the company will be worth $1.96 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 7.90 million shares traded hands. Nokia Corp (ADR) (NYSE:NOK) has declined 24.57% since April 12, 2016 and is downtrending. It has underperformed by 29.56% the S&P500.

Nokia Corp (ADR) (NYSE:NOK) Ratings Coverage

Out of 17 analysts covering Nokia (NYSE:NOK), 11 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 65% are positive. Nokia has been the topic of 20 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The rating was downgraded by BNP Paribas to “Neutral” on Friday, October 28. The rating was upgraded by Nordea to “Sell” on Tuesday, September 1. As per Wednesday, May 25, the company rating was upgraded by CLSA. Nordea upgraded the shares of NOK in a report on Friday, April 8 to “Buy” rating. The company was initiated on Tuesday, September 22 by Credit Agricole. The rating was upgraded by Credit Suisse to “Outperform” on Tuesday, December 1. The rating was maintained by M Partners with “Neutral” on Wednesday, May 11. The stock has “Overweight” rating given by JP Morgan on Thursday, February 18. The stock of Nokia Corp (ADR) (NYSE:NOK) has “Market Perform” rating given on Friday, May 6 by Raymond James. Argus Research upgraded Nokia Corp (ADR) (NYSE:NOK) on Friday, January 15 to “Buy” rating.

According to Zacks Investment Research, “Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.”

Another recent and important Nokia Corp (ADR) (NYSE:NOK) news was published by Investorplace.com which published an article titled: “Why Groupon Inc (GRPN), Nokia Corp (ADR) (NOK) and National-Oilwell Varco, Inc …” on October 27, 2016.

NOK Company Profile

Nokia Corporation, incorporated on December 19, 1896, is a global well-known provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s divisions include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies. Mobile Broadband provides mobile operators with network solutions for mobile voice and data services through its Radio and Core business lines. Global Services provides mobile operators with services to create and maintain networks. Nokia Networks Other includes net sales and related cost of sales and operating expenses of non-core businesses. Nokia Technologies focuses on technology development and licensing, and includes net sales from both intellectual property right activities and technology licensing. The Radio business consists of second generation (2G) to fifth generation (5G) technology generations. The Core business has a mobile switching portfolio, as well as voice and packet core solutions.

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