Nokia (NYSE:NOK) Siemens Networks has shown impressive growth in the mobile telecom equipment market in the third quarter, reducing the gap with market leaders Ericsson and Huawei, according to telecoms industry research firm Dell’Oro.
Nokia Siemens posted record third quarter earnings in October because of deals to help build new high-speed wireless technology networks. That marked a most important turnaround for the joint venture that has hurt earnings at owners Nokia Corporation (NYSE:NOK) and Siemens since it was formed in 2007.
Dell’Oro said on Tuesday that the overall market share of Nokia Siemens grew to 20 percent as compared to 18 percent last quarter. It also predicted the partnership surpassed Alcatel-Lucent’s No. 2 spot in the high-speed wireless technology network market. The study claims that market leader Ericsson faced its overall market share declined to 34 percent versus 35.5 percent in the previous quarter, while No. 2 Huawei’s share showed no change at 22 percent.
Shares of this company traded up 2.26% during trading yesterday, hitting $2.71 on NASDAQ, whose benchmark S&P 500 added 0.18 points to 1,380.03 points. The latest closing price is 56.96% off the 52-week high of $6.80 and +66.26% above the 52-week low of $1.63. At that price, shares moved down -0.33% from the 50-day simple moving average and -16.91% than 200-day average.
How a stock moves along with the market depends on its volatility and for this stock, the volatility of 2.95% was seen in a week and for the month was 3.64%. The majority of analysts covering NOK stock believe it will struggle to hit 2.62.
A total of 15.91 million shares changed hands with price floating in a range of $2.67 – $2.74. However, its 30-day average volume stands at 38.27 million shares. The year-to-date (YTD) performance reflected a -39.24% fall below last year. During the past month the stock advanced 4.23%, bringing three-month performance to -1.81% and six-month performance to -15.31%.