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Nokia Corp ADR (NOK) Analysis & Forecast for 2024

Nokia Corp ADR (NYSE: NOK) is 2.34% higher on its value in year-to-date trading and has touched a low of $2.94 and a high of $4.97 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NOK stock was last observed hovering at around $3.54 in the last trading session, with the day’s loss setting it -0.04%.

Currently trading at $3.50, the stock is -2.70% and -2.13% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.63 million and changing -1.13% at the moment leaves the stock -4.53% off its SMA200. NOK registered -26.16% loss for a year compared to 6-month loss of -5.91%. The firm has a 50-day simple moving average (SMA 50) of $0.74 and a 200-day simple moving average (SMA200) of $5.56.

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The stock witnessed a -0.85% gain in the last 1 month and extending the period to 3 months gives it a 3.86%, and is -2.23% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.82% over the week and 1.79% over the month.

Current P/E ratio is 27.39 and Fwd P/E is 9.26. Profit margin for the company is 2.99%. Distance from 52-week low is 19.05% and -29.58% from its 52-week high. The company has generated returns on investments over the last 12 months (2.61%).

Nokia Corp ADR quarterly earnings per share for the current quarter are estimated at $0.06 with sales reaching $5.11B over the same period.The EPS is expected to grow by 18.74% this year, but quarterly earnings will post -2.00% year-over-year. Quarterly sales are estimated to shrink -18.70% in year-over-year returns.

Nokia Corp ADR (NOK) Top Institutional Holders

510 institutions hold shares in Nokia Corp ADR (NOK), with institutional investors hold 5.57% of the company’s shares. The shares outstanding are 5.53B, and float is at 5.53B with Short Float at 0.56%. Institutions hold 5.57% of the Float.

The top institutional shareholder in the company is Artisan Partners Limited Partnership with over 91.77 million shares valued at $381.78 million. The investor’s holdings represent 1.63% of the NOK Shares outstanding. As of Jun 29, 2023, the second largest holder is Folketrygdfondet with 18.97 million shares valued at $78.93 million to account for 0.34% of the shares outstanding. The other top investors are Renaissance Technologies, LLC which holds 18.53 million shares representing 0.33% and valued at over $77.09 million, while Optiver Holding B.v. holds 0.32% of the shares totaling 18.05 million with a market value of $75.1 million.

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