Telecom equipment company Nokia Corporation (NYSE:NOK) was in focus yesterday after it announced its financial results for the fourth fiscal quarter and also the full year 2021. While it is true that the Nokia stock is down by as much as 7% over the course of the past month, the company was upbeat about its performance and also its future.
Trading Data
On Monday, NOK stock gained 0.35% to $5.73 with more than 23 million shares, compared to its average volume of 24.34 million shares. The stock moved within a range of $5.65 – 5.77 after opening trade at $5.65.
Earnings Recap
Nokia noted that 2021 was a ‘transformational year’ for the company and it had led to the company further consolidating its position as a technology leaders. In the fourth quarter, the company managed to grow its net sales by as much as 3% year on year.
On the other hand, the operating margin actually decline to 14.2%. The comparable margin for the full year actually went up to 12.5%. In this regard, it is perhaps also necessary for investors to note that in the fourth quarter, the cash flow generation remained strong for Nokia.
Cash flow generation in that quarter stood at 0.4 billion Euros. As can be seen, the stock may be down in the past month but the situation at Nokia isn’t particularly alarming at this point. It may be a good time to consider adding the stock to your watch lists.
Technical Data
NOK stock is below the 20-Day and 50-Day Moving averages of $5.81 and 5.91 respectively. Moreover, the below is trading below the 200-Day moving average of $5.65.
