China Mobile Ltd. (NYSE:CHl) gapped up before the market opened on Thursday . The stock had previously closed at $59.14, but opened at $59.35. China Mobile shares last traded at $59.90, with a volume of 201,398 shares.

CHL has been the subject of several analyst reports. Zacks Investment Research upgraded shares of China Mobile from a “sell” rating to a “hold” rating in a research report on Tuesday, March 22nd. Deutsche Bank AG cut shares of China Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th.

The firm has a 50-day moving average of $56.70 and a 200-day moving average of $55.33. The stock has a market cap of $244.85 billion and a price-to-earnings ratio of 15.06.

A number of large investors have recently bought and sold shares of the company. Morgan Stanley boosted its stake in China Mobile by 49.9% in the fourth quarter. Morgan Stanley now owns 903,633 shares of the company’s stock valued at $50,902,000 after buying an additional 300,783 shares in the last quarter. Asturias Capital LLC bought a new position in China Mobile during the fourth quarter worth approximately $12,181,000. Wells Fargo & Company MN boosted its position in China Mobile by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 619,693 shares of the company’s stock worth $34,908,000 after buying an additional 163,121 shares during the period. PNC Financial Services Group Inc. boosted its position in China Mobile by 397.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 55,427 shares of the company’s stock worth $3,122,000 after buying an additional 44,290 shares during the period. Finally, Stevens Capital Management LP bought a new position in China Mobile during the fourth quarter worth approximately $1,547,000.

China Mobile Limited is an investment holding company. The Company is engaged in providing mobile telecommunications and related services in 31 provinces, autonomous regions and directly-administered municipalities in Mainland China and Hong Kong Special Administrative Region through its subsidiaries.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.