China Unicom (Hong Kong) Limited CHU was a big mover last session, as the company saw its shares rise nearly 7% on the day. The uptrend was driven by the news reports suggesting that the company could make a pitch to some other major Chinese companies for making investments in exchange for equity stakes. This resulted in solid volume with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $10.92 to $11.74 in the past one-month time frame.
None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
China Unicom currently carries a Zacks Rank #5 (Strong Sell), while its Earnings ESP is 0.00%.
A better-ranked stock in the same industry is Ceragon Networks Ltd. CRNT, sporting a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
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