Nokia Corporation (NYSE:NOK) recently entered into a strategic partnership deal with China’s leading direct B2C e-commerce company, 360buy.com, to sell as much as $320 million (RMB 2 billion) worth of phones next year with an aim to reassert itself in the country.
The deal suggests 360Buy is now a formally licensed Nokia vendor, and it has already initiated pre-sales for the Lumia 920 and 920T. At $738 (RMB 4,599), the device has been made available at the high-end of the market, though it’s still cheaper as compared to the Apple Inc. (NASDAQ:AAPL)’s iPhone 5, which retails for $849 (RMB 5,288). 360Buy is also joining hands with Qihoo 360 and Nokia for the launch of the Nokia 2050.[article_detail_ad_1]
Pursuant to the deal with the Finnish company, 360buy will allow customers to buy their most recent handsets as soon as they arrive. Moreover, Nokia’s recently introduced e-store on 360buy.com will complement Nokia’s traditional distribution channels, proprietary shops and license vendors.
How the Nokia stock is trending now?
Shares of Nokia (NOK) traded down -0.71% during last trading session, closing at $4.18. The share price of NOK traded yesterday in a range of $4.15 to $4.27. The company now has a market value of $15.65 billion.
Are you optimistic or bullish on the near-term price outlook?
The stock, after recent close, is 35.55% up their SMA 50 and 23.09% off the 52-week high. The worst hit in its 52 week range is $1.63 per share, with $5.87 as its 52 week best price that compares with a latest closing price of $4.18. Its latest closing price has a distance of +15.02% from SMA20 and is 36.29% up than SMA200.
Watch the stock’s performance in different time span.
With recent gain, the year-to-date (YTD) performance reflected a 0.24% gain above last year. During the past month the stock advanced 41.69%, bringing three-month performance to +44.64% and six-month performance to +67.20%.
Do you know how risky is this stock?
For this company, beta value at 1.57 represents it is more volatile to the shift in the market. If we take a look on its volatility, 3.99% was seen in a week and for the month it was 4.97%.
What does equity analysts say?
For the stock, mean recommendation this week is 3.6. Sharing price target summary; nearly 16 brokerages have a mean PT as $2.71 and median PT of $2.36 while the highest price target set by those rating agencies was $6.00 and lowest PT was $1.50.
Leave a Reply