China Unicom Ltd. (CHU) Shares Gap Down to $10.62
China Unicom Ltd. (NYSE:CHU) gapped down prior to trading on Friday . The stock had previously closed at $10.60, but opened at $10.62. China Unicom shares last traded at $10.71, with a volume of 95,860 shares trading hands.
A number of equities research analysts recently weighed in on CHU shares. Nomura raised shares of China Unicom from a “reduce” rating to a “buy” rating in a research report on Friday, April 22nd. Mizuho cut shares of China Unicom from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 18th. TheStreet cut shares of China Unicom from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. Finally, Jefferies Group cut shares of China Unicom from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.95.
The firm has a market cap of $25.62 billion and a P/E ratio of 21.84. The company’s 50-day moving average price is $10.38 and its 200-day moving average price is $11.25.
A number of large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in China Unicom by 14.2% in the fourth quarter. First Trust Advisors LP now owns 132,815 shares of the company’s stock worth $1,602,000 after buying an additional 16,549 shares during the last quarter. Comerica Bank raised its stake in China Unicom by 4.7% in the fourth quarter. Comerica Bank now owns 128,613 shares of the company’s stock worth $1,435,000 after buying an additional 5,764 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in China Unicom by 4.0% in the fourth quarter. Bank of Montreal Can now owns 88,999 shares of the company’s stock worth $1,074,000 after buying an additional 3,398 shares during the last quarter.
China Unicom (Hong Kong) Limited is an investment holding company. The Company is an integrated telecommunications operator. The principal activities of the Company’s subsidiaries are the provision of cellular and fixed-line voice and related services, broadband and other Internet-related services, information communications technology services, and business and data communications services in the People’s Republic of China (PRC).
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