Nippon Telegraph & Telephone Corp. (NYSE:NTT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $46.76, but opened at $46.91. Nippon Telegraph & Telephone Corp. shares last traded at $47.16, with a volume of 83,666 shares.

Separately, Zacks Investment Research downgraded Nippon Telegraph & Telephone Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th.

The company has a 50-day moving average of $45.77 and a 200 day moving average of $44.02. The firm has a market capitalization of $98.71 billion and a P/E ratio of 14.22.

Other hedge funds have recently bought and sold shares of the company. Morgan Stanley boosted its stake in Nippon Telegraph & Telephone Corp. by 564.7% in the fourth quarter. Morgan Stanley now owns 2,472,245 shares of the company’s stock valued at $98,246,000 after buying an additional 2,100,288 shares during the last quarter. Bank of Montreal Can boosted its stake in Nippon Telegraph & Telephone Corp. by 709.3% in the fourth quarter. Bank of Montreal Can now owns 34,337 shares of the company’s stock valued at $1,364,000 after buying an additional 30,094 shares during the last quarter. WBI Investments Inc. purchased a new stake in Nippon Telegraph & Telephone Corp. during the fourth quarter valued at $7,381,000. Deere & Co. boosted its stake in Nippon Telegraph & Telephone Corp. by 65.4% in the fourth quarter. Deere & Co. now owns 43,180 shares of the company’s stock valued at $1,716,000 after buying an additional 17,081 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Nippon Telegraph & Telephone Corp. by 4.0% in the fourth quarter. Advisors Asset Management Inc. now owns 50,062 shares of the company’s stock valued at $1,989,000 after buying an additional 1,945 shares during the last quarter.

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.