China Unicom Ltd. (CHU) Shares Gap Up to $10.99
China Unicom Ltd. (NYSE:CHU) gapped up before the market opened on Thursday . The stock had previously closed at $10.50, but opened at $10.99. China Unicom shares last traded at $11.60, with a volume of 280,618 shares.
A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein raised China Unicom from a “market perform” rating to an “outperform” rating in a research note on Thursday. Jefferies Group lowered China Unicom from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Mizuho lowered China Unicom from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 18th. TheStreet lowered China Unicom from a “hold” rating to a “sell” rating in a research note on Wednesday, April 27th. Finally, Nomura raised China Unicom from a “reduce” rating to a “buy” rating in a research note on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.95.
The firm’s 50 day moving average price is $10.49 and its 200 day moving average price is $11.26. The stock has a market capitalization of $27.97 billion and a price-to-earnings ratio of 23.84.
Several large investors recently bought and sold shares of CHU. 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 period. 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 period. Finally, 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 period.
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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