China Mobile Ltd. (NYSE:CHl)’s share price gapped down before the market opened on Friday . The stock had previously closed at $61.33, but opened at $61.64. China Mobile shares last traded at $62.15, with a volume of 227,224 shares changing hands.

CHL has been the topic of several research analyst reports. Zacks Investment Research cut shares of China Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, April 12th. Deutsche Bank AG cut shares of China Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th.

The firm has a market capitalization of $254.96 billion and a PE ratio of 15.58. The stock has a 50 day moving average price of $59.05 and a 200 day moving average price of $56.24.

A number of institutional investors have made changes to their positions in the stock. US Bancorp DE boosted its position in shares of China Mobile by 166.3% in the fourth quarter. US Bancorp DE now owns 29,572 shares of the company’s stock worth $1,666,000 after buying an additional 18,466 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of 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 last quarter. Finally, Morgan Stanley boosted its position in shares of China Mobile by 49.9% in the fourth quarter. Morgan Stanley now owns 903,633 shares of the company’s stock worth $50,902,000 after buying an additional 300,783 shares during the last quarter.

China Mobile Limited is engaged in the provision of telecommunications and related services. The Company offers certain Internet-related services, including mobile Internet, digital services, and certain applications and information services. The Company’s businesses primarily consist of voice business and data business.

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