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Nokia shares dip below average trading volume, maintain Overweight rating

EditorLina Guerrero
Published 01/05/2024, 07:46 PM
© Reuters

HELSINKI - Nokia (HE:NOKIA) Corp.'s American Depositary Receipts (ADR) experienced a slight drop in their trading price on Friday, settling at $3.44. This current price trails behind the 52-week high of $5.04, showcasing a period of lessened momentum for the Finnish telecommunications company. Despite this, the market capitalization of Nokia holds steady at $19 billion.

Trading activity for Nokia was notably subdued, with only 11.7 million shares changing hands. This figure falls short of the 50-day average volume of 15.8 million shares and is also below the three-month average trading volume which stands above 18 million shares. The reduced trading volume reflects a quieter day in the market for Nokia, as investors traded fewer shares than usual.

Just the day before, on Thursday, Nokia's ADRs had seen a marginal high of $3.46, indicating a slight fluctuation in the stock's price within a narrow band. Despite the lower trading volume and the small dip in share price, analysts are maintaining a positive outlook on the company's stock with an Overweight stance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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