Telecom Italia SpA (TI) Shares Gap Up to $8.11
Shares of Telecom Italia SpA (NYSE:TI) gapped up before the market opened on Wednesday . The stock had previously closed at $7.95, but opened at $8.11. Telecom Italia SpA shares last traded at $8.29, with a volume of 25,849 shares.
Several brokerages have weighed in on TI. TheStreet cut shares of Telecom Italia SpA from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Zacks Investment Research upgraded shares of Telecom Italia SpA from a “sell” rating to a “hold” rating and set a $8.50 price objective for the company in a research note on Tuesday, July 19th. HSBC cut shares of Telecom Italia SpA from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. cut shares of Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Telecom Italia SpA presently has an average rating of “Hold” and an average price target of $8.50.
The stock has a market cap of $16.19 billion, a PE ratio of 17.06 and a beta of 1.55. The company’s 50-day moving average is $8.76 and its 200-day moving average is $9.22.
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Several hedge funds have recently bought and sold shares of TI. Rhumbline Advisers raised its stake in Telecom Italia SpA by 32.4% in the second quarter. Rhumbline Advisers now owns 17,158 shares of the company’s stock valued at $140,000 after buying an additional 4,200 shares during the last quarter. Ameriprise Financial Inc. raised its position in Telecom Italia SpA by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 25,455 shares of the company’s stock valued at $208,000 after buying an additional 5,255 shares during the last quarter. Zweig DiMenna Associates LLC bought a new position in Telecom Italia SpA during the second quarter valued at $241,000. Finally, Gabelli Funds LLC raised its position in Telecom Italia SpA by 2.8% in the second quarter. Gabelli Funds LLC now owns 369,000 shares of the company’s stock valued at $3,015,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 0.71% of the company’s stock.
Telecom Italia SpA Company Profile
Telecom Italia S.p.A. (Telecom Italia) operates fixed voice and data infrastructure in Italy, and provides mobile network platforms. The Company focuses on various areas of digital services, including Enriched Communication, Trusted Digital Life, Business Life, Indoor Life, Mobile Open Life and Digital Entertainment.
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