Chunghwa Telecom (NYSE:CHT) Sees Unusually-High Trading Volume – Here’s Why

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares saw strong trading volume on Monday . 104,630 shares traded hands during trading, an increase of 4% from the previous session’s volume of 100,341 shares.The stock last traded at $38.52 and had previously closed at $38.84.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Chunghwa Telecom from a “hold” rating to a “buy” rating in a report on Friday, January 24th.

Chunghwa Telecom Trading Down 0.6 %

The business’s fifty day simple moving average is $38.03 and its two-hundred day simple moving average is $38.15. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $29.68 billion, a P/E ratio of 25.68, a P/E/G ratio of 21.41 and a beta of 0.20.

Chunghwa Telecom (NYSE:CHT) last released its earnings results on Thursday, January 23rd. The utilities provider reported $0.36 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 9.53% and a net margin of 16.18%. As a group, analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allworth Financial LP increased its stake in Chunghwa Telecom by 40.5% in the third 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. Sierra Ocean LLC bought a new stake in shares of Chunghwa Telecom in the 4th quarter valued at approximately $54,000. GAMMA Investing LLC raised its holdings in shares of Chunghwa Telecom by 71.4% in the 4th quarter. GAMMA Investing LLC now owns 3,085 shares of the utilities provider’s stock worth $116,000 after buying an additional 1,285 shares in the last quarter. R Squared Ltd acquired a new stake in Chunghwa Telecom in the 4th quarter valued at $127,000. Finally, V Square Quantitative Management LLC boosted its stake in Chunghwa Telecom by 31.0% in the 4th quarter. V Square Quantitative Management LLC now owns 4,065 shares of the utilities provider’s stock valued at $153,000 after buying an additional 961 shares in the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

About Chunghwa Telecom

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.