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The stock has gained 56.5% year-to-date and 28.8% over the past three months to close Friday’s trading session at $6.12.
Hedge funds have been scooping up its shares lately, which is no surprise given the increasing demand for NOK’s products and services worldwide. For example, Vocus, Australia’s leading fiber and network solutions provider, deployed the company’s solution to set up its 200G optical network. The United Group also chose NOK’s solutions on August 11 to deliver its cloud-native core network products in Bulgaria, Croatia, and Slovenia. Furthermore, NOK has revised its full-year outlook. Its net sales are now expected to come between EUR 21.70 billion ($25.59 billion) and EUR 22.70 billion ($26.77 billion). So, its near-term prospects look promising.
