• The stock was downgraded to "underweight" from "neutral" at JPMorgan Chase
• Analysts at Zacks downgraded shares of Nokia from an "outperform" rating to a "neutral" rating in a research note on Thursday, August 14th
• Despite the analyst downgrades, shares of NOK saw a large drop in short interest in July. As of July 31st, there was short interest totaling 19,488,976 shares, a drop of 18.0% from the July 15th total of 23,770,984 shares, Stock Ratings Network.com reports
• NOK broke to the upside today +0.20 2.54% closing at 8.02
• The stock was up about 0.6 percent after recording a 0.9 percent gain on Monday's session.
• A number of large new positions initiated in NOK
• NOK raised full-year guidance following recent Q2 results
• CNBC's 'Fast Money' Tim Seymour recommends NOK on Aug.12th http://www.cnbc.com/id/101915163
• Nokia Capital Markets Day will be held on November 14, 2014. Potential huge catalyst for the stock.
Disclosure: The author is long NOK.
Additional disclosure: CNBC's Tim Seymour is a buyer of NOK.