Telefónica (NYSE:TEF) Shares Gap Down – Here’s What Happened

Shares of Telefónica, S.A. (NYSE:TEF) gapped down before the market opened on Wednesday . The stock had previously closed at $4.60, but opened at $4.50. Telefónica shares last traded at $4.50, with a volume of 63,809 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Telefónica from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Telefónica Price Performance

The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market cap of $26.39 billion, a PE ratio of -17.90 and a beta of 0.62. The stock’s 50-day moving average is $4.20 and its two-hundred day moving average is $4.43.

Hedge Funds Weigh In On Telefónica

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in shares of Telefónica by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 64,522 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 2,332 shares during the period. Stifel Financial Corp boosted its position in shares of Telefónica by 0.5% during the 4th quarter. Stifel Financial Corp now owns 464,198 shares of the utilities provider’s stock worth $1,866,000 after purchasing an additional 2,478 shares during the period. Tower Research Capital LLC TRC increased its stake in Telefónica by 71.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,236 shares of the utilities provider’s stock worth $25,000 after buying an additional 2,603 shares during the period. GAMMA Investing LLC increased its stake in Telefónica by 18.3% during the 4th quarter. GAMMA Investing LLC now owns 18,975 shares of the utilities provider’s stock worth $76,000 after buying an additional 2,936 shares during the period. Finally, Gitterman Wealth Management LLC increased its stake in Telefónica by 8.5% during the 4th quarter. Gitterman Wealth Management LLC now owns 41,311 shares of the utilities provider’s stock worth $166,000 after buying an additional 3,246 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.