BT Group (OTCMKTS:BTGOF) Shares Down 5.2% – Here’s What Happened

Shares of BT Group plc (OTCMKTS:BTGOF) were down 5.2% during mid-day trading on Monday . The company traded as low as $2.3750 and last traded at $2.39. Approximately 20,294 shares were traded during mid-day trading, an increase of 68% from the average daily volume of 12,097 shares. The stock had previously closed at $2.52.

Analyst Upgrades and Downgrades

BTGOF has been the topic of a number of analyst reports. New Street Research downgraded BT Group to a “neutral” rating in a research note on Tuesday, September 30th. BNP Paribas cut BT Group to an “underperform” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, BT Group currently has an average rating of “Reduce”.

BT Group Stock Down 5.2%

The company’s fifty day moving average price is $2.38 and its two-hundred day moving average price is $2.56.

Hedge Funds Weigh In On BT Group

A hedge fund recently bought a new stake in BT Group stock. Boston Common Asset Management LLC purchased a new stake in BT Group plc (OTCMKTS:BTGOF) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 53,804 shares of the company’s stock, valued at approximately $138,000. 38.14% of the stock is owned by institutional investors and hedge funds.

BT Group Company Profile

BT Group plc is a leading global telecommunications and networked IT services provider headquartered in London, United Kingdom. Through its principal operating company, British Telecommunications plc, the group offers a comprehensive range of communication solutions that span fixed-line telephony, broadband internet, mobile services, digital television and advanced network-based IT and cloud services. Its end-to-end portfolio is designed to meet the needs of consumer, business and public sector clients seeking high-speed connectivity, unified communications and managed security solutions.

The company’s product lineup includes consumer broadband packages under the Openreach and Plusnet brands, converged mobile and fixed voice bundles marketed through EE, and bespoke network infrastructure for enterprise customers.