China Telecom Co. Limited (NYSE:CHA) Sees Significant Decrease in Short Interest

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China Telecom Co. Limited (NYSE:CHA) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 64,800 shares, a drop of 14.4% from the July 31st total of 75,700 shares. Based on an average daily trading volume, of 36,900 shares, the short-interest ratio is presently 1.8 days. Currently, 0.1% of the company’s stock are sold short.

Shares of NYSE:CHA traded down $0.26 during trading on Friday, reaching $47.03. The stock had a trading volume of 24,404 shares, compared to its average volume of 39,358. China Telecom has a one year low of $42.34 and a one year high of $57.09. The company has a market capitalization of $38.66 billion, a P/E ratio of 12.34, a PEG ratio of 1.48 and a beta of 0.75. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $44.77 and its 200 day simple moving average is $50.02.

Several large investors have recently added to or reduced their stakes in the company. Nkcfo LLC acquired a new stake in China Telecom in the 2nd quarter valued at $30,000. JPMorgan Chase & Co. boosted its stake in shares of China Telecom by 400.8% during the second quarter. JPMorgan Chase & Co. now owns 626 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 501 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of China Telecom during the first quarter valued at $36,000. BNP Paribas Arbitrage SA boosted its stake in shares of China Telecom by 159.2% during the first quarter. BNP Paribas Arbitrage SA now owns 705 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 433 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of China Telecom during the second quarter valued at $103,000. Institutional investors and hedge funds own 0.48% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of China Telecom from a “strong sell” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.95.

China Telecom Company Profile

China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.

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