China Unicom Ltd. (CHU) Shares Gap Down to $11.68
Shares of China Unicom Ltd. (NYSE:CHU) gapped down prior to trading on Friday . The stock had previously closed at $11.51, but opened at $11.68. China Unicom shares last traded at $11.95, with a volume of 240,990 shares.
Several analysts have commented on the stock. Jefferies Group downgraded shares of China Unicom from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Mizuho downgraded shares of China Unicom from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 18th. Sanford C. Bernstein raised shares of China Unicom from a “market perform” rating to an “outperform” rating in a research report on Thursday. Finally, TheStreet downgraded shares of China Unicom from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.95.
The stock has a market capitalization of $28.74 billion and a price-to-earnings ratio of 24.49. The stock has a 50 day moving average of $10.54 and a 200-day moving average of $11.27.
An institutional investor recently raised its position in China Unicom stock. Bank of Montreal Can boosted its position in shares of China Unicom Ltd. (NYSE:CHU) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,999 shares of the company’s stock after buying an additional 3,398 shares during the period. Bank of Montreal Can’s holdings in China Unicom were worth $1,074,000 as of its most recent filing with the SEC.
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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