China Unicom (Hong Kong) (NYSE:CHU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

Several other equities research analysts have also commented on CHU. UBS Group upgraded shares of China Unicom (Hong Kong) from a “neutral” rating to a “buy” rating in a research report on Monday, June 10th. New Street Research downgraded shares of China Unicom (Hong Kong) from a “buy” rating to a “neutral” rating in a report on Monday, August 19th. Finally, Credit Suisse Group upgraded shares of China Unicom (Hong Kong) from a “neutral” rating to an “outperform” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Shares of NYSE:CHU traded down $0.01 during trading on Wednesday, hitting $10.70. 411,440 shares of the stock were exchanged, compared to its average volume of 425,497. The company has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $11.17. The company has a market cap of $31.76 billion, a PE ratio of 21.40 and a beta of 0.99. The company has a current ratio of 0.38, a quick ratio of 0.37 and a debt-to-equity ratio of 0.09. China Unicom has a 12-month low of $9.05 and a 12-month high of $13.66.

A number of institutional investors have recently added to or reduced their stakes in CHU. Bank of Montreal Can raised its holdings in shares of China Unicom (Hong Kong) by 35.8% in the first quarter. Bank of Montreal Can now owns 110,208 shares of the Wireless communications provider’s stock worth $1,411,000 after acquiring an additional 29,026 shares during the last quarter. Boston Partners purchased a new stake in China Unicom (Hong Kong) during the 1st quarter worth about $671,000. Marshall Wace LLP acquired a new position in China Unicom (Hong Kong) in the 1st quarter valued at about $156,000. Marshall Wace North America L.P. acquired a new position in China Unicom (Hong Kong) in the 1st quarter valued at about $2,374,000. Finally, Evolution Wealth Advisors LLC acquired a new position in China Unicom (Hong Kong) in the 2nd quarter valued at about $27,000. 1.04% of the stock is owned by institutional investors.

About China Unicom (Hong Kong)

China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, and related value-added services in the People's Republic of China. It also provides broadband and other Internet-related services, information communications technology services, and business and data communications services.

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Analyst Recommendations for China Unicom (Hong Kong) (NYSE:CHU)

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