China Unicom Ltd. (CHU) Sees Significant Growth in Short Interest
China Unicom Ltd. (NYSE:CHU) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,391,479 shares, a growth of 174.5% from the September 15th total of 506,929 shares. Based on an average daily trading volume, of 575,304 shares, the days-to-cover ratio is currently 2.4 days.
A number of institutional investors have recently made changes to their positions in CHU. Renaissance Technologies LLC increased its position in shares of China Unicom by 77.2% in the first quarter. Renaissance Technologies LLC now owns 1,476,800 shares of the company’s stock valued at $19,435,000 after buying an additional 643,200 shares during the period. Credit Suisse AG increased its position in shares of China Unicom by 72.1% in the second quarter. Credit Suisse AG now owns 772,428 shares of the company’s stock valued at $8,041,000 after buying an additional 323,495 shares during the period. NINE MASTS CAPITAL Ltd increased its position in shares of China Unicom by 21.7% in the second quarter. NINE MASTS CAPITAL Ltd now owns 698,550 shares of the company’s stock valued at $7,221,000 after buying an additional 124,754 shares during the period. OLD Mission Capital LLC acquired a new position in shares of China Unicom during the second quarter valued at approximately $1,823,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of China Unicom during the second quarter valued at approximately $1,714,000. 0.96% of the stock is currently owned by institutional investors.
China Unicom (NYSE:CHU) opened at 12.29 on Tuesday. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 39.65 and a beta of 0.59. The stock has a 50 day moving average price of $11.99 and a 200 day moving average price of $11.33. China Unicom has a 52-week low of $9.89 and a 52-week high of $13.45.
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Several brokerages have commented on CHU. Jefferies Group lowered China Unicom from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Goldman Sachs Group Inc. raised China Unicom from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Thursday, September 22nd. Finally, Sanford C. Bernstein raised China Unicom from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. China Unicom presently has a consensus rating of “Buy” and a consensus price target of $13.47.
About China Unicom
China Unicom (Hong Kong) Limited is an investment holding company. The Company is an integrated telecommunications operator. The principal activities of the Company’s subsidiaries are the provision of cellular and fixed-line voice and related services, broadband and other Internet-related services, information communications technology services, and business and data communications services in the People’s Republic of China (PRC).
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