Telefónica (NYSE:TEF) Sees Unusually-High Trading Volume – Here’s What Happened

Telefónica, S.A. (NYSE:TEF) saw strong trading volume on Wednesday . 395,036 shares were traded during trading, a decline of 42% from the previous session’s volume of 684,368 shares.The stock last traded at $4.51 and had previously closed at $4.47.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TEF. Bank of America cut Telefónica from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Hsbc Global Res raised shares of Telefónica to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Telefónica from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, HSBC upgraded Telefónica from a “reduce” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Telefónica currently has a consensus rating of “Hold”.

Telefónica Trading Up 1.3 %

The company has a market capitalization of $25.69 billion, a PE ratio of -17.17 and a beta of 0.67. The company has a fifty day simple moving average of $4.67 and a 200-day simple moving average of $4.54. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33.

Hedge Funds Weigh In On Telefónica

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Telefónica by 171.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,682 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 3,590 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Telefónica by 113.9% during the 1st quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 3,135 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in shares of Telefónica during the second quarter worth about $45,000. Sanctuary Advisors LLC acquired a new position in shares of Telefónica in the third quarter valued at approximately $45,000. Finally, Abel Hall LLC purchased a new stake in Telefónica during the 3rd quarter worth approximately $53,000. 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.