China Unicom (Hong Kong) (NYSE:CHU) Shares Up 6.7%

Shares of China Unicom (Hong Kong) Limited (NYSE:CHU) shot up 6.7% during trading on Thursday . The company traded as high as $9.97 and last traded at $9.77, 669,000 shares were traded during mid-day trading. An increase of 57% from the average session volume of 425,444 shares. The stock had previously closed at $9.16.

A number of research firms have commented on CHU. Credit Suisse Group raised shares of China Unicom (Hong Kong) from a “neutral” rating to an “outperform” rating in a research note on Wednesday. UBS Group raised shares of China Unicom (Hong Kong) from a “neutral” rating to a “buy” rating in a research note on Monday, June 10th. Zacks Investment Research raised shares of China Unicom (Hong Kong) from a “sell” rating to a “hold” rating in a research note on Friday. Finally, New Street Research raised shares of China Unicom (Hong Kong) from a “neutral” rating to a “buy” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $12.00.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.34 and a current ratio of 0.35. The firm has a market cap of $28.03 billion, a PE ratio of 19.86 and a beta of 1.01. The stock’s 50 day simple moving average is $10.18 and its 200 day simple moving average is $11.37.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC lifted its holdings in shares of China Unicom (Hong Kong) by 145.3% in the 1st quarter. Lindbrook Capital LLC now owns 2,075 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,229 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of China Unicom (Hong Kong) by 1.4% in the 2nd quarter. SG Americas Securities LLC now owns 96,114 shares of the Wireless communications provider’s stock worth $1,048,000 after acquiring an additional 1,310 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of China Unicom (Hong Kong) by 101.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,628 shares of the Wireless communications provider’s stock worth $29,000 after acquiring an additional 1,325 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of China Unicom (Hong Kong) by 9.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 21,120 shares of the Wireless communications provider’s stock worth $230,000 after acquiring an additional 1,799 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of China Unicom (Hong Kong) by 1.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 121,329 shares of the Wireless communications provider’s stock worth $1,553,000 after acquiring an additional 1,937 shares during the last quarter. Hedge funds and other institutional investors own 1.05% of the company’s stock.

China Unicom (Hong Kong) Company Profile (NYSE:CHU)

China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, and related value-added services in the People's Republic of China. It also provides broadband and other Internet-related services, information communications technology services, and business and data communications services.

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