The total mobile phone sales in India reached 102.4 million units during the starting six months of 2012, with Nokia Corporation (ADR) (NYSE:NOK) continuing its dominance in the feature phone space with 22.2 percent share of the total shipments. CyberMedia Research (CMR) recently released a study showing that the total Indian mobile handset sales during the period between January and June 2012 remained 102.4 million units, with 5.5 million of these smartphones.
Nokia (NOK) maintained leading position among the phonemakers as it continues to ride the growth of feature phones, which saw 16.9 percent advance during the first half this year. Overall, smartphones rose at 12.2 percent. Samsung followed the Finnish phonemaker with a 13 percent market share, while local manufacturer Micromax represented 5.5 percent of total unit shipments.
Latest closing price and its Comparison with some technical indicators
The Nokia stock closed at $2.56, down -0.07 points or -2.66% from previous close and at a distance of -4.60% from 20-day simple moving average. In the last trading session, the stock’s price moved -24.01% below its 200 day moving average, changing hands as low as $2.56 per share. The stock is currently trading -7.21% down its SMA 50.
Find out whether the stock is performing well?
The percentage change in the price over the past fifty two weeks remained at -61.96%. The price range in the same period had a highest hit of $7.07 on Oct 31, 2011 while lowest level during that period was $1.63 on Jul 18, 2012. The 1-year target price estimate, which is the median price target, as set by analysts covering the stock is $2.46. The stock in last 12 months dropped -62.19% and has slid -42.60% since the beginning of this year.
How this stock generally moves along with the stock market?
This stock is more risky when compared to the shifts in the equity markets as its beta value is standing at 1.54. To measure price-variation, we found this stock’s volatility over a week period was 3.27% and for the month was 4.18%.
What analysts think about this stock?
The analyst mean recommendation for this week has been changed to 3.5 from 3.4 in the last week. The price target of $1.00 was the lowest while the highest price target was set as $5.00, according to 18 analysts surveyed by Thomson Reuters.