5 Cheap Growth Stocks to Buy According to Billionaire Steve Cohen

4. Nokia Corporation (NYSE:NOK)

Share Price as of December 13: $5.98

Number of Hedge Fund Holders: 22

Nokia Corporation (NYSE:NOK), one of the largest 5G network providers in the world, is among the cheap growth stocks to buy according to Steve Cohen. According to Q3 13F data tracked by Insider Monkey, Point72 Asset Management owned 2.6 million shares of Nokia Corporation (NYSE:NOK) valued at $14.3 million. 

On November 1, Andrew Gardiner of Barclays upped his target for Nokia Corporation (NYSE:NOK) to EUR 5.25 from EUR 5 and maintained an Equal Weight on the shares. 

In late November, the 5G firm signed a five-year agreement with Qatari telecom giant Ooredoo to provide technological and network solutions, such as 5G, to Ooredoo customers in the Middle East, North Africa, and Southeast Asia. Nokia Corporation (NYSE:NOK) shares soared 54% year to date.

With over 22.6 million shares, Massachusetts-based investment firm Arrowstreet Capital is the biggest shareholder of Nokia Corporation (NYSE:NOK) as of the end of the September quarter. The total value of the stake is $123 million.