Nokia Oyj (NYSE:NOK) shares traded higher Thursday after the company announced a satellite communications partnership with ICEYE, a European satellite company focused on sovereign intelligence from space.
• Nokia stock is gaining positive traction. Why is NOK stock trading higher?
Nokia, ICEYE Target Secure Satellite Networks
Nokia and ICEYE will jointly develop secure broadband low-Earth-orbit satellite systems for defense, border security, emergency services and disaster response.
The systems will give participating nations ownership and control of satellites, ground infrastructure and terminals, with the first launches expected in 2028.
ICEYE will contribute sovereign satellite capabilities, while Nokia will provide secure networking and defense expertise. The systems are designed to complement existing military and commercial networks when terrestrial infrastructure is disrupted.
Nokia Expands Defense Connectivity Push
The ICEYE agreement extends Nokia’s defense communications strategy into satellite connectivity.
In September, Nokia Defense partnered with C3IA on secure communications, private 4G/5G and command-and-control capabilities for U.K. defense operations.
Nokia also launched Cognitive Operations, a field-deployable platform combining mission-critical communications, edge computing and AI for defense and public-safety applications.
Nokia Technical Outlook
Nokia remains above its 200-day SMA of $9.99 and near its 50-day SMA of $10.05, supporting the longer-term trend.
However, shares trade 1.2% below the 20-day SMA of $10.40 and 13.1% below the 100-day SMA of $11.81, leaving near-term resistance overhead.
RSI stands at 48.83, a neutral reading that suggests balanced momentum.
The broader setup remains constructive, with the 20-day SMA above the 50-day SMA and the 50-day SMA above the 200-day SMA following an October 2025 golden cross.
Key resistance sits near $11, while key support is around $9.50.
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Earnings and Analyst Outlook
Nokia is scheduled to report earnings on Oct. 22, 2026.
Wall Street expects EPS of eight cents, up from seven cents a year earlier, on revenue of $5.80 billion versus $5.64 billion.
The stock carries a Buy consensus rating with a consensus price target of $11.
B. Riley Securities initiated coverage with a Buy rating and $15 target on Sept. 17 and Rosenblatt initiated with Buy and a $15 target on Sept. 15.
JPMorgan maintained an Overweight rating and raised its target to $21 on June 12.
NOK Stock Price Activity: Nokia shares were up 0.89% at $10.24 at the time of publication on Thursday, according to Benzinga Pro data.
Photo: Igal Vaisman / Shutterstock
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