Nokia Corporation (NYSE:NOK) has tumbled 1.6% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 5.95% in the last four weeks. The stocks have underperformed the S&P 500 by 0.42% during the past week but Nokia Corporation (NYSE:NOK) it has outperformed the index in 4 weeks by 4.98%.
Nokia Corporation (NYSE:NOK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.51 and $5.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.53. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.52, notching a gain of 0.55% for the day. The total traded volume was 12,585,704 . The stock had closed at $5.49 on the previous day.
The company shares have dropped -24.38% from its 1 Year high price. On Nov 4, 2015, the shares registered one year high at $7.63 and the one year low was seen on May 16, 2016. The 50-Day Moving Average price is $5.53 and the 200 Day Moving Average price is recorded at $6.24.
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, CLSA upgrades its outlook on Nokia Corporation (NYSE:NOK). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Underperform. The rating by the firm was issued on May 25, 2016. Institutional Investors own 4.11% of Nokia Corporation shares.
Nokia Corporation is a Finland-based telecommunication and network infrastructure company. The Company operates through two business segments: Nokia Networks and Nokia Technologies. Nokia Networks offers network infrastructure software, hardware and services, and is divided into Mobile Broadband and Global Services. Nokia Technologies develops and licenses technologies and manages an Intellectual Property (IP) portfolio of approximately 10,000 patent families consisted of approximately 30,000 individual patents and patent applications. The Company holds a majority stake in Alcatel-Lucent, among others, and owns operations and research and development (R&D) facilities in Europe, North America and Asia.