The NOK stock price fluctuated between $6.02 and $6.23 throughout the trading session with the volume trading being 71M shares, which represented a positive variation when compared to the three months average volume of 40M shares.
The share price of Nokia Corporation (NYSE:NOK) ran up 4.13% to close Thursday’s market session at $6.05, higher as compared to yesterday’s close which brings the market valuation of the company to $34.41B.
The 52-week high for the Nokia Corporation’s shares is $9.79. That puts it -38.2% from that peak but still a good gain since the share price dropped to a 52-week low of $3.21, while the S&P 500’s share price change was of 35%.
What does the trading volume tell us about the NOK stock?
During the last trading session, Nokia Corporation (NYSE:NOK) has seen decay in its daily volume. The daily volume was of 40M, while in the last 10 days the average was 26.59M and last three months – 40.46M.
The decreasing interest in the NOK stock from the investors is helping to drive the stock price down.
Growing short interest
The Nokia Corporation’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 33.43M shares being shorted which translates into 0.68 of a short ratio for NOK, while in the previous month the shorted shares were 30.23M.
Nokia Corporation (NYSE:NOK) financials
With a market cap of 34.41B, Nokia Corporation holds a total cash of $9.03B that translates into $1.6 per share, while the total debt is of $6.19B.
The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 3.30%. The current revenue is of $22.02B that is $3.92 per share.
This is a great sign for a bright future.