China Telecom Corp. (NYSE:CHA) gapped up before the market opened on Wednesday . The stock had previously closed at $49.52, but opened at $49.64. China Telecom Corp. shares last traded at $50.90, with a volume of 15,490 shares changing hands.

A number of equities research analysts have issued reports on CHA shares. Citigroup Inc. lowered shares of China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Zacks Investment Research raised shares of China Telecom Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Bank of America Corp. started coverage on shares of China Telecom Corp. in a research note on Monday, August 15th. They set a “top pick” rating for the company. They noted that the move was a valuation call.

The stock’s 50 day moving average price is $51.33 and its 200 day moving average price is $49.26. The company has a market capitalization of $41.19 billion, a P/E ratio of 13.39 and a beta of 0.67.

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Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of China Telecom Corp. by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 15,152 shares of the company’s stock worth $796,000 after buying an additional 98 shares during the last quarter. BlackRock Inc. raised its position in shares of China Telecom Corp. by 3.7% in the first quarter. BlackRock Inc. now owns 11,292 shares of the company’s stock valued at $593,000 after buying an additional 404 shares in the last quarter. World Asset Management Inc raised its position in shares of China Telecom Corp. by 8.3% in the second quarter. World Asset Management Inc now owns 8,587 shares of the company’s stock valued at $386,000 after buying an additional 660 shares in the last quarter. State Street Corp raised its position in shares of China Telecom Corp. by 5.8% in the second quarter. State Street Corp now owns 12,328 shares of the company’s stock valued at $555,000 after buying an additional 677 shares in the last quarter. Finally, Stevens Capital Management LP raised its position in shares of China Telecom Corp. by 20.7% in the second quarter. Stevens Capital Management LP now owns 5,587 shares of the company’s stock valued at $251,000 after buying an additional 959 shares in the last quarter. Institutional investors own 0.54% of the company’s stock.

About China Telecom Corp.

China Telecom Corporation Limited is an integrated information service provider in the People’s Republic of China (PRC). The Company offers a range of telecommunications services, including wireline voice services, mobile voice services, Internet access services, value-added services, integrated information application services, telecommunications network resource services and lease of network equipment and other related services.

5 Day Chart for NYSE:CHA

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