China Mobile Ltd. (CHL) Sees Unusually-High Trading Volume
Shares of China Mobile Ltd. (NYSE:CHl) saw strong trading volume on Tuesday . 752,753 shares changed hands during trading, an increase of 29% from the previous session’s volume of 584,798 shares.The stock last traded at $62.36 and had previously closed at $62.50.
A number of research analysts have recently commented on the company. Deutsche Bank AG downgraded China Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th. Zacks Investment Research upgraded China Mobile from a “sell” rating to a “hold” rating in a research report on Monday, April 18th.
The firm’s 50 day moving average is $59.46 and its 200-day moving average is $56.45. The company has a market cap of $255.90 billion and a P/E ratio of 15.64.
A number of hedge funds and institutional investors recently made changes to their positions in the stock. 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 valued at $50,902,000 after buying an additional 300,783 shares in the last quarter. Wells Fargo & Company MN boosted its stake 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. Finally, US Bancorp DE boosted its stake in 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 period.
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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