Telefónica (NYSE:TEF) Sees Unusually-High Trading Volume – Still a Buy?

Telefónica, S.A. (NYSE:TEF) saw unusually-high trading volume on Tuesday . Approximately 1,413,706 shares changed hands during mid-day trading, an increase of 109% from the previous session’s volume of 677,856 shares.The stock last traded at $4.66 and had previously closed at $4.65.

Analysts Set New Price Targets

TEF has been the topic of several recent analyst reports. Bank of America lowered Telefónica from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. StockNews.com lowered Telefónica from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Hsbc Global Res raised Telefónica to a “hold” rating in a report on Wednesday, October 2nd. Finally, HSBC raised Telefónica from a “reduce” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Telefónica Stock Performance

The firm has a fifty day simple moving average of $4.73 and a 200-day simple moving average of $4.54. The company has a market cap of $26.37 billion, a PE ratio of -29.13 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.37.

Hedge Funds Weigh In On Telefónica

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Telefónica by 171.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,682 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 3,590 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Telefónica by 113.9% during the first quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 3,135 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Telefónica during the first quarter worth about $34,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Telefónica during the second quarter worth about $45,000. Finally, GAMMA Investing LLC boosted its stake in shares of Telefónica by 92.3% during the third quarter. GAMMA Investing LLC now owns 16,039 shares of the utilities provider’s stock worth $78,000 after buying an additional 7,697 shares during the period. Hedge funds and other institutional investors own 1.14% of the company’s stock.

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.