China Mobile (Hong Kong) Ltd. (NYSE:CHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “China Mobile offers mobile communications services principally using Global System for Mobile Communications, or GSM, which is a pan-European mobile telephone system based on digital transmission and mobile communications network architecture with roaming capabilities. Our GSM networks reach all cities and counties and most major roads and highways in our service regions. “

A number of other research analysts have also issued reports on CHL. Morgan Stanley lowered China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a research report on Wednesday, July 5th. BidaskClub lowered China Mobile (Hong Kong) from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Finally, Bank of America Corporation started coverage on China Mobile (Hong Kong) in a research report on Wednesday, August 30th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. China Mobile (Hong Kong) has a consensus rating of “Hold” and a consensus price target of $57.00.

China Mobile (NYSE CHL) traded down 0.65% during midday trading on Monday, hitting $50.70. The stock had a trading volume of 611,638 shares. The company has a market cap of $207.62 billion, a price-to-earnings ratio of 12.23 and a beta of 0.29. China Mobile has a 12-month low of $50.07 and a 12-month high of $59.16. The company has a 50-day moving average price of $51.28 and a 200-day moving average price of $53.44.

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Large investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC boosted its position in China Mobile (Hong Kong) by 19.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,138 shares of the Wireless communications provider’s stock valued at $114,000 after purchasing an additional 342 shares during the period. Israel Discount Bank of New York boosted its position in China Mobile (Hong Kong) by 43.0% during the 2nd quarter. Israel Discount Bank of New York now owns 3,075 shares of the Wireless communications provider’s stock valued at $163,000 after purchasing an additional 925 shares during the period. High Pointe Capital Management LLC acquired a new position in China Mobile (Hong Kong) during the 2nd quarter valued at approximately $205,000. National Asset Management Inc. boosted its position in China Mobile (Hong Kong) by 2.5% during the 2nd quarter. National Asset Management Inc. now owns 4,016 shares of the Wireless communications provider’s stock valued at $215,000 after purchasing an additional 99 shares during the period. Finally, First Allied Advisory Services Inc. boosted its position in China Mobile (Hong Kong) by 0.5% during the 2nd quarter. First Allied Advisory Services Inc. now owns 4,289 shares of the Wireless communications provider’s stock valued at $227,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 1.97% of the company’s stock.

About China Mobile (Hong Kong)

China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.

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Analyst Recommendations for China Mobile (Hong Kong) (NYSE:CHL)

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