Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) traded down 2.1% during mid-day trading on Friday . The company traded as low as $8.84 and last traded at $8.95, with a volume of 202,711 shares trading hands. The stock had previously closed at $9.14.

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Turkcell Iletisim Hizmetleri A.S. from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 6th. Zacks Investment Research downgraded Turkcell Iletisim Hizmetleri A.S. from a “buy” rating to a “hold” rating in a research note on Thursday.

The stock’s 50-day moving average price is $9.06 and its 200 day moving average price is $9.35. The company’s market capitalization is $7.77 billion.

An institutional investor recently raised its position in Turkcell Iletisim Hizmetleri A.S. stock. First Trust Advisors LP boosted its stake in Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) by 4.7% during the fourth quarter, Holdings Channel reports. The fund owned 588,230 shares of the company’s stock after buying an additional 26,461 shares during the period. First Trust Advisors LP owned 0.07% of Turkcell Iletisim Hizmetleri A.S. worth $4,994,000 as of its most recent filing with the SEC.

Turkcell Iletisim Hizmetleri AS is a converged communication and technology services provider in Turkey. It is engaged in establishing and operating a Global System for Mobile Communications (GSM) network in Turkey and regional states. The Company comprises the following main reportable segments: Turkcell, Euroasia, Belarusian Telecom all of which are GSM operator in their countries and Turkcell Superonline which provides fixed broadband services.

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