Mobile TeleSystems OJSC (NYSE:MBT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “MOBILE TELE-ADR mission is to build a integrated mobile communications world, which will bring people together, enrich their lives and open up new horizons, both at work and at home. They will do this by Anticipating on and understanding of our customers’ needs, employing experienced, qualified and highly motivated personnel, introducing new technologies, and enhancing our company’s development. “

Several other brokerages have also issued reports on MBT. Morgan Stanley lowered Mobile TeleSystems OJSC from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $12.60 to $9.90 in a research report on Thursday, May 4th. BidaskClub raised Mobile TeleSystems OJSC from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co raised Mobile TeleSystems OJSC from a “neutral” rating to an “overweight” rating and set a $10.50 target price for the company in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.05.

Mobile TeleSystems OJSC (MBT) opened at 9.15 on Tuesday. Mobile TeleSystems OJSC has a 52 week low of $7.09 and a 52 week high of $11.59. The company’s 50-day moving average price is $8.58 and its 200 day moving average price is $9.58. The company has a market cap of $9.05 billion, a PE ratio of 6.08 and a beta of 0.94.

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Several hedge funds and other institutional investors have recently bought and sold shares of MBT. Tudor Investment Corp ET AL acquired a new position in Mobile TeleSystems OJSC during the second quarter valued at $103,000. Sciencast Management LP acquired a new position in Mobile TeleSystems OJSC during the second quarter valued at $103,000. Greenleaf Trust acquired a new position in Mobile TeleSystems OJSC during the second quarter valued at $115,000. Lapides Asset Management LLC raised its position in Mobile TeleSystems OJSC by 25.7% in the second quarter. Lapides Asset Management LLC now owns 14,200 shares of the Wireless communications provider’s stock valued at $119,000 after buying an additional 2,900 shares during the period. Finally, M&T Bank Corp raised its position in Mobile TeleSystems OJSC by 23.5% in the second quarter. M&T Bank Corp now owns 14,978 shares of the Wireless communications provider’s stock valued at $126,000 after buying an additional 2,852 shares during the period. 32.15% of the stock is owned by hedge funds and other institutional investors.

Mobile TeleSystems OJSC Company Profile

Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a provider of telecommunications services. The Company provides mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.

Analyst Recommendations for Mobile TeleSystems OJSC (NYSE:MBT)

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