China Telecom Co. Limited (NYSE:CHA) Short Interest Update

China Telecom Co. Limited (NYSE:CHA) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 125,100 shares, an increase of 14.8% from the December 15th total of 109,000 shares. Based on an average trading volume of 65,500 shares, the short-interest ratio is presently 1.9 days. Approximately 0.1% of the company’s shares are short sold.

Several research firms have recently weighed in on CHA. UBS Group raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research report on Thursday, September 26th. Zacks Investment Research raised shares of China Telecom from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. Finally, Citigroup raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $57.95.

Several institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in China Telecom during the fourth quarter valued at approximately $355,000. FNY Investment Advisers LLC purchased a new position in China Telecom during the fourth quarter valued at approximately $341,000. Banco de Sabadell S.A grew its position in China Telecom by 126.7% during the third quarter. Banco de Sabadell S.A now owns 10,431 shares of the utilities provider’s stock valued at $472,000 after purchasing an additional 5,829 shares in the last quarter. State Street Corp grew its position in China Telecom by 21.0% during the third quarter. State Street Corp now owns 35,772 shares of the utilities provider’s stock valued at $1,630,000 after purchasing an additional 6,213 shares in the last quarter. Finally, First Trust Advisors LP grew its position in China Telecom by 21.1% during the third quarter. First Trust Advisors LP now owns 20,009 shares of the utilities provider’s stock valued at $912,000 after purchasing an additional 3,489 shares in the last quarter. 0.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of China Telecom stock traded down $0.37 during trading on Wednesday, hitting $40.38. The stock had a trading volume of 61,436 shares, compared to its average volume of 76,414. The stock has a 50 day simple moving average of $39.73 and a 200 day simple moving average of $43.75. The company has a market capitalization of $32.22 billion, a PE ratio of 10.60, a P/E/G ratio of 1.09 and a beta of 0.71. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.20. China Telecom has a 1 year low of $37.62 and a 1 year high of $57.09.

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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