China Mobile Ltd. (CHL) Sees Unusually-High Trading Volume
Shares of China Mobile Ltd. (NYSE:CHl) saw an uptick in trading volume on Tuesday . 752,753 shares changed hands during mid-day 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 brokerages have recently commented on CHL. Goldman Sachs Group Inc. lowered shares of China Mobile from a “conviction-buy” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of China Mobile from a “sell” rating to a “hold” rating in a report on Monday, April 18th. Finally, Deutsche Bank AG lowered shares of China Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $72.57.
The firm has a market capitalization of $257.01 billion and a P/E ratio of 15.71. The stock’s 50 day moving average price is $59.62 and its 200 day moving average price is $56.48.
Several institutional investors recently bought and sold shares of CHL. Morgan Stanley increased its position 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 during the period. Wells Fargo & Company MN increased 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 valued at $34,908,000 after buying an additional 163,121 shares during the period. Finally, US Bancorp DE increased its position in China Mobile by 166.3% in the fourth quarter. US Bancorp DE now owns 29,572 shares of the company’s stock valued at $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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