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Nokia Corporation (NYSE:NOK) shares are trending on Wednesday.
Check out the current price of NOK stock here.
Shares of the Finnish telecommunications company climbed 2.45% to $7.96 in after-hours trading on Tuesday.
Nvidia Corp. (NASDAQ:NVDA) has agreed to invest $1 billion for a 2.9% stake in Nokia, valuing the shares at $6.01 each.
Nokia's board approved issuing more than 166 million new shares, which are set to begin trading in Helsinki, Paris and New York after regulatory approval.
Dell Technologies Inc. (NYSE:DELL) will provide its PowerEdge servers to support the collaboration.
On Oct. 23, the technology company posted third-quarter earnings of $0.07 per share, surpassing the $0.06 estimate, with revenue of $5.65 billion, exceeding the projected $5.38 billion.
Janardan Menon, an analyst at Jefferies, raised NOK from Hold to Buy.
Nokia has gained 56.97% over the past year and is up 75.40% so far in 2025, trading within a 52-week range of $3.91 to $8.19 and carrying a market capitalization of $43.21 billion.
It has price-to-earnings ratio of 39.37 and a dividend yield of 2.02%.
Price Action: According to Benzinga Pro data, NOK closed at $7.77, up 22.84% on Tuesday.
With a Momentum in the 75th percentile, Benzinga’s Edge Stock Rankings indicate that NOK has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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Photo Courtesy: Igal Vaisman on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
