On Friday, analysts lowered their price targets on Finnish cell maker Nokia (NYSE:NOK) to slightly above the worth of its cash and patents as optimism dies away that phones powered with new Microsoft software can breathe life into the sick mobile firm anytime soon.
The release of latest Lumia smartphones, predicted to commence in September, has been changed into a do-or-die event for Nokia boss Stephen Elop, the planner of a partnership with Microsoft which has up to now done little to revive the company’s challenge to the supremacy of Apple’s iPhone and Samsung’s Galaxy phones.
But confidence turns lower following Nokia announced a pounding quarterly decline on Thursday and cautioned of another huge display of bearish performance for its phone segment in the third quarter.
Its competitors include Ericsson (ADR) (NASDAQ:ERIC) that slipped -1.08% to $8.70 with the total traded volume of 3.57 million shares.
Other technology stocks with bullish trend include American Tower Corp (NYSE:AMT) up 0.57% to $70.92, Frontier Communications Corp (NASDAQ:FTR) up 0.40% to $3.73 and Telephone & Data Systems, Inc. (NYSE:TDS) up 0.39% to $23.46, whereas with bearish trend include Aruba Networks, Inc. (NASDAQ:ARUN) down -4.99% to $13.60, Mellanox Technologies, Ltd. (NASDAQ:MLNX) down -4.96% to $89.24 and Telecom Italia S.p.A. (ADR) (NYSE:TI) down -4.83% to $8.07.
Nokia Corporation (ADR) (NYSE:NOK) stock’s trade at beginning with a price of $1.73 and throughout the trading session climbed at a high of $1.76 other than when day-trade ended the stock finally declined -7.57% to $1.71.
Shares price of NOK moved down from its 20 days moving average with -14.54% and remote negatively from 50 days moving average with -31.10%. NOK current year earnings per share experienced an addition with -162.97% while its current quarter performance remained -50.15%.
NOK had a trade volume of 51.67 million shares was higher as compared to average trading capacity of 42.49 million shares.
NOK last month stock price volatility remained 4.73%. In its share capital NOK has 3.83 Billion outstanding shares among them 3.82 Billion shares have been floated in market exchange. NOK stock institutional ownership remained 12.07%.
The stock is ahead its 52 week low with 4.91% and lagging behind from its 52 week high price with -74.98%. Company’s beta coefficient included 1.57. Beta factors measures the amount of market risk associated with market trade.
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