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

Telefónica, S.A. (NYSE:TEF) saw unusually-high trading volume on Wednesday . Approximately 395,036 shares were traded during mid-day 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.

Wall Street Analysts Forecast Growth

TEF has been the subject of several research reports. StockNews.com upgraded shares of Telefónica from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Bank of America lowered shares of Telefónica from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Hsbc Global Res upgraded Telefónica to a “hold” rating in a research note on Wednesday, October 2nd. Finally, HSBC upgraded Telefónica from a “reduce” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Telefónica Price Performance

The firm’s fifty day simple moving average is $4.65 and its 200-day simple moving average is $4.54. The firm has a market capitalization of $25.69 billion, a PE ratio of -17.42 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 1.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in shares of Telefónica by 3.7% in the third quarter. Franklin Resources Inc. now owns 64,522 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 2,332 shares during the period. Mitchell & Pahl Private Wealth LLC grew its stake in shares of Telefónica by 2.1% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 135,936 shares of the utilities provider’s stock valued at $661,000 after purchasing an additional 2,768 shares during the period. Russell Investments Group Ltd. grew its stake in shares of 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 purchasing an additional 3,135 shares during the period. MML Investors Services LLC increased its position in shares of Telefónica by 7.8% during the 3rd quarter. MML Investors Services LLC now owns 45,289 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 3,266 shares during the last quarter. Finally, BSW Wealth Partners boosted its holdings in shares of Telefónica by 11.4% in the third quarter. BSW Wealth Partners now owns 32,150 shares of the utilities provider’s stock worth $156,000 after buying an additional 3,290 shares during the last quarter. 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.