Vodafone Group (NASDAQ:VOD) Upgraded to Buy at Berenberg Bank

Vodafone Group (NASDAQ:VOD) was upgraded by analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

A number of other analysts have also commented on the stock. Barclays upgraded shares of Vodafone Group from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 8th. BNP Paribas Exane initiated coverage on shares of Vodafone Group in a research report on Tuesday, October 21st. They set an “underperform” rating and a $8.00 target price for the company. Wall Street Zen downgraded Vodafone Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research lowered Vodafone Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Finally, UBS Group restated a “sell” rating on shares of Vodafone Group in a report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Vodafone Group presently has a consensus rating of “Reduce” and an average price target of $72.00.

Vodafone Group Trading Up 2.8%

NASDAQ:VOD traded up $0.38 on Wednesday, hitting $13.91. The stock had a trading volume of 3,382,208 shares, compared to its average volume of 6,115,216. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 0.78. Vodafone Group has a 52 week low of $8.00 and a 52 week high of $13.93. The business’s fifty day moving average is $12.46 and its 200 day moving average is $11.75.

Institutional Trading of Vodafone Group

A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Vodafone Group in the second quarter worth $25,000. Atwood & Palmer Inc. bought a new position in Vodafone Group in the 2nd quarter worth about $27,000. Sound Income Strategies LLC raised its holdings in shares of Vodafone Group by 3,455.7% in the 3rd quarter. Sound Income Strategies LLC now owns 3,449 shares of the cell phone carrier’s stock valued at $39,000 after acquiring an additional 3,352 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Vodafone Group by 38.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,435 shares of the cell phone carrier’s stock worth $40,000 after purchasing an additional 946 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Vodafone Group by 49.7% in the second quarter. GAMMA Investing LLC now owns 6,632 shares of the cell phone carrier’s stock worth $71,000 after purchasing an additional 2,201 shares during the last quarter. Hedge funds and other institutional investors own 7.84% of the company’s stock.

About Vodafone Group

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.