China Unicom (Hong Kong) (NYSE:CHU) Upgraded to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of China Unicom (Hong Kong) (NYSE:CHU) from a sell rating to a hold rating in a report published on Monday, September 17th.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

Several other analysts have also commented on CHU. Mizuho lowered shares of China Unicom (Hong Kong) from a neutral rating to an underperform rating in a research report on Thursday, June 7th. TheStreet raised shares of China Unicom (Hong Kong) from a d+ rating to a c rating in a research report on Tuesday, August 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $14.00.

Shares of CHU stock traded down $0.03 during mid-day trading on Monday, hitting $11.21. 542,029 shares of the stock traded hands, compared to its average volume of 343,069. The firm has a market cap of $35.77 billion, a price-to-earnings ratio of 101.91 and a beta of 0.91. China Unicom has a 52-week low of $11.13 and a 52-week high of $15.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.37.

Institutional investors have recently made changes to their positions in the stock. Jump Trading LLC purchased a new position in shares of China Unicom (Hong Kong) in the 1st quarter valued at approximately $150,000. Private Advisor Group LLC purchased a new position in shares of China Unicom (Hong Kong) in the 2nd quarter valued at approximately $172,000. PEAK6 Investments L.P. purchased a new position in shares of China Unicom (Hong Kong) in the 2nd quarter valued at approximately $230,000. Banco de Sabadell S.A purchased a new position in shares of China Unicom (Hong Kong) in the 1st quarter valued at approximately $272,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of China Unicom (Hong Kong) by 110.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 17,708 shares of the Wireless communications provider’s stock valued at $272,000 after purchasing an additional 9,288 shares during the last quarter. 1.05% of the stock is owned by hedge funds and other institutional investors.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited, an integrated telecommunications operator, provides telecommunications services and telecommunications products worldwide. It offers mobile voice services that enable its subscribers to make and receive phone calls comprising local calls, domestic and international long-distance calls, intra-provincial roaming, inter-provincial roaming, and international roaming; and mobile data, mobile reading, mobile music, WO app store, SMS, personalized ring-back tone, and other wireless information services.

Read More: Initial Public Offering (IPO)

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