Chunghwa Telecom (NYSE:CHT) Sees Large Volume Increase – Should You Buy?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares saw strong trading volume on Thursday . 337,949 shares were traded during mid-day trading, an increase of 300% from the previous session’s volume of 84,552 shares.The stock last traded at $37.42 and had previously closed at $37.93.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut shares of Chunghwa Telecom from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th.

Chunghwa Telecom Stock Up 0.7 %

The company has a current ratio of 1.47, a quick ratio of 1.16 and a debt-to-equity ratio of 0.06. The company has a market cap of $29.17 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 18.03 and a beta of 0.19. The firm’s fifty day simple moving average is $38.50 and its 200 day simple moving average is $38.31.

Hedge Funds Weigh In On Chunghwa Telecom

A number of large investors have recently bought and sold shares of CHT. Allworth Financial LP boosted its stake in shares of Chunghwa Telecom by 40.5% during the 3rd quarter. Allworth Financial LP now owns 919 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 265 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Chunghwa Telecom by 14.2% during the second quarter. GAMMA Investing LLC now owns 2,543 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 317 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Chunghwa Telecom during the second quarter valued at approximately $120,000. EverSource Wealth Advisors LLC grew its position in shares of Chunghwa Telecom by 80.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,345 shares of the utilities provider’s stock worth $126,000 after buying an additional 1,488 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Chunghwa Telecom by 31.8% in the second quarter. CWM LLC now owns 3,443 shares of the utilities provider’s stock worth $133,000 after buying an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Company Profile

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.