Chunghwa Telecom (NYSE:CHT) Sees Large Volume Increase – Should You Buy?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) saw strong trading volume on Thursday . 337,949 shares traded hands during mid-day trading, an increase of 300% from the previous session’s volume of 84,552 shares.The stock last traded at $37.42 and had previously closed at $37.93.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. downgraded shares of Chunghwa Telecom from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th.

Chunghwa Telecom Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.47 and a quick ratio of 1.16. The business’s 50 day simple moving average is $38.50 and its 200 day simple moving average is $38.31. The company has a market capitalization of $29.17 billion, a PE ratio of 25.75, a P/E/G ratio of 18.03 and a beta of 0.19.

Institutional Investors Weigh In On Chunghwa Telecom

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its stake in shares of Chunghwa Telecom by 40.5% in the 3rd quarter. Allworth Financial LP now owns 919 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 265 shares during the period. Foster Group Inc. raised its stake in shares of Chunghwa Telecom by 4.6% in the 2nd quarter. Foster Group Inc. now owns 6,760 shares of the utilities provider’s stock valued at $261,000 after acquiring an additional 299 shares during the period. GAMMA Investing LLC grew its holdings in shares of Chunghwa Telecom by 14.2% in the second quarter. GAMMA Investing LLC now owns 2,543 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 317 shares in the last quarter. Simplicity Wealth LLC grew its holdings in shares of Chunghwa Telecom by 8.4% in the second quarter. Simplicity Wealth LLC now owns 5,755 shares of the utilities provider’s stock valued at $222,000 after purchasing an additional 445 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its holdings in shares of Chunghwa Telecom by 1.5% in the second quarter. Kathmere Capital Management LLC now owns 30,247 shares of the utilities provider’s stock valued at $1,168,000 after purchasing an additional 460 shares in the last quarter. 2.11% of the stock is owned by hedge funds and other institutional investors.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.