China Unicom Ltd. (CHU) Sees Unusually-High Trading Volume
China Unicom Ltd. (NYSE:CHU) shares saw unusually-strong trading volume on Monday . Approximately 405,157 shares changed hands during mid-day trading, an increase of 82% from the previous session’s volume of 222,405 shares.The stock last traded at $10.81 and had previously closed at $10.70.
Several brokerages recently weighed in on CHU. Mizuho cut China Unicom from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 18th. Jefferies Group lowered China Unicom from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. TheStreet lowered China Unicom from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. Finally, Nomura upgraded China Unicom from a “reduce” rating to a “buy” rating in a research report on Friday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. China Unicom currently has a consensus rating of “Hold” and a consensus price target of $13.95.
The company has a 50 day moving average price of $10.41 and a 200 day moving average price of $11.26. The firm has a market capitalization of $25.77 billion and a PE ratio of 21.96.
Other institutional investors have modified their holdings of the company. First Trust Advisors LP increased its position in shares of China Unicom by 14.2% in the fourth quarter. First Trust Advisors LP now owns 132,815 shares of the company’s stock valued at $1,602,000 after buying an additional 16,549 shares during the last quarter. Comerica Bank increased its position in shares of China Unicom by 4.7% in the fourth quarter. Comerica Bank now owns 128,613 shares of the company’s stock valued at $1,435,000 after buying an additional 5,764 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of China Unicom by 4.0% in the fourth quarter. Bank of Montreal Can now owns 88,999 shares of the company’s stock valued at $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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