5 Best Low Cost Tech Stocks to Buy Right Now

1. Nokia Corporation (NYSE:NOK)

Number of Hedge Fund Holders: 22

Share Price (as of January 10): $6.15

As of January 10, Nokia Corporation (NYSE:NOK) shares have gained 59.43% in the last 12 months, and 6.38% in the last 3 months. The Finnish company deals in network infrastructure, software services and and various technologies around the globe, and trades with a market cap of $34.68 billion.

For Q3 2021, EPS for Nokia Corporation (NYSE:NOK) came in at $0.09, exceeding expectations by $0.01. Quarterly revenue of $6.31 billion was above estimates by $13.08 million. On December 20, Morgan Stanley analyst Dominik Olszewski initiated coverage of Nokia Corporation (NYSE:NOK) with an ‘Overweight’ rating and a price target of $7.50, noting that the company is improving its operational efficiency faster than expected, and its shares offer a positive ratio of risk to reward.

In November, Nokia Corporation (NYSE:NOK) announced that it had been selected by Ooredoo Group on a 5-year contract to bring 5G and other technologies to consumers in the Middle East, South-East Asia and North Africa. This deal will help Nokia expand its technological footprint, and will build on its global partnership with Ooredoo. The rollout of 5G technology is expected to be more sustained in comparison to the 4G rollout, and this could mean increased earnings and growth for Nokia Corporation (NYSE:NOK) if company management can perform well.

As of the third quarter, 22 hedge funds reported ownership of stakes in Nokia Corporation (NYSE:NOK), with 26 funds holding positions in the company in Q2 2021. With roughly 22.60 million shares, Arrowstreet Capital is the leading shareholder of Nokia Corporation (NYSE:NOK).

You can also take a look at 15 Best Undervalued Stocks to Buy Now and 10 Best Stocks To Buy and Hold For 5 Years

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