Shares of China Unicom (Hong Kong) Ltd (NYSE:CHU) hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.42 and last traded at $16.42, with a volume of 2,989,595 shares trading hands. The stock had previously closed at $15.88.

Several analysts have commented on the stock. Morgan Stanley cut shares of China Unicom (Hong Kong) from an “overweight” rating to an “underweight” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of China Unicom (Hong Kong) from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Friday. Jefferies Group LLC upgraded shares of China Unicom (Hong Kong) from an “underperform” rating to a “buy” rating in a research report on Thursday, April 27th. BidaskClub cut shares of China Unicom (Hong Kong) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, CLSA cut shares of China Unicom (Hong Kong) from an “outperform” rating to an “underperform” rating in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. China Unicom (Hong Kong) has a consensus rating of “Hold” and an average target price of $14.75.

The stock has a market capitalization of $39.32 billion, a price-to-earnings ratio of 164.20 and a beta of 0.74. The company’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.70.

A number of large investors have recently bought and sold shares of CHU. PNC Financial Services Group Inc. increased its stake in China Unicom (Hong Kong) by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 16,837 shares of the Wireless communications provider’s stock valued at $227,000 after buying an additional 738 shares during the period. BNP Paribas Arbitrage SA increased its stake in China Unicom (Hong Kong) by 2.5% in the first quarter. BNP Paribas Arbitrage SA now owns 121,656 shares of the Wireless communications provider’s stock valued at $1,639,000 after buying an additional 2,990 shares during the period. Capstone Asset Management Co. increased its stake in China Unicom (Hong Kong) by 0.3% in the first quarter. Capstone Asset Management Co. now owns 39,839 shares of the Wireless communications provider’s stock valued at $537,000 after buying an additional 130 shares during the period. Capital One National Association bought a new stake in China Unicom (Hong Kong) during the second quarter valued at $299,000. Finally, Wells Fargo & Company MN increased its stake in China Unicom (Hong Kong) by 23.4% in the first quarter. Wells Fargo & Company MN now owns 33,401 shares of the Wireless communications provider’s stock valued at $450,000 after buying an additional 6,329 shares during the period. 1.19% of the stock is owned by hedge funds and other institutional investors.

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About China Unicom (Hong Kong)

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.

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