Telefónica (NYSE:TEF) Shares Gap Up – Here’s Why

Telefónica, S.A. (NYSE:TEF) gapped up prior to trading on Thursday . The stock had previously closed at $4.67, but opened at $4.85. Telefónica shares last traded at $4.88, with a volume of 282,577 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Telefónica from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Telefónica presently has an average rating of “Hold”.

Telefónica Stock Performance

The business’s 50-day moving average price is $4.38 and its 200-day moving average price is $4.43. The stock has a market cap of $27.78 billion, a P/E ratio of -18.85 and a beta of 0.43. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.85.

Institutional Trading of Telefónica

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Telefónica by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 308,396 shares of the utilities provider’s stock worth $1,499,000 after buying an additional 24,854 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Telefónica by 293.4% during the third quarter. JPMorgan Chase & Co. now owns 35,412 shares of the utilities provider’s stock valued at $172,000 after purchasing an additional 26,410 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Telefónica by 274.0% in the third quarter. Point72 Asset Management L.P. now owns 316,566 shares of the utilities provider’s stock worth $1,539,000 after buying an additional 231,919 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Telefónica during the 3rd quarter valued at approximately $45,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Telefónica during the 4th quarter worth approximately $47,000. 1.14% of the stock is owned by hedge funds and other institutional investors.

About Telefónica

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.