Sunrise Communications (NASDAQ:SNRE) Shares Gap Up – Time to Buy?

Shares of Sunrise Communications AG (NASDAQ:SNRE) gapped up before the market opened on Monday . The stock had previously closed at $49.56, but opened at $50.81. Sunrise Communications shares last traded at $50.57, with a volume of 47,541 shares.

Wall Street Analyst Weigh In

Separately, Redburn Atlantic downgraded shares of Sunrise Communications from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Sunrise Communications Price Performance

The firm’s fifty day moving average is $50.43.

Sunrise Communications (NASDAQ:SNRE) last announced its quarterly earnings data on Monday, May 19th. The company reported ($0.03) earnings per share for the quarter.

Sunrise Communications Announces Dividend

The company also recently announced a — dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be given a dividend of $3.7252 per share. The ex-dividend date of this dividend is Friday, May 16th.

Institutional Investors Weigh In On Sunrise Communications

An institutional investor recently bought a new position in Sunrise Communications stock. Anchor Investment Management LLC bought a new stake in Sunrise Communications AG (NASDAQ:SNRE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 530 shares of the company’s stock, valued at approximately $26,000.

About Sunrise Communications

Sunrise Communications AG engages in the provision of telecommunications solutions. The firm offers mobile, broadband, TV, and fixed-line telephony services to residential customers. It also provides mobile and broadband services, as well as a range of value-added portfolio services, including cloud services, cybersecurity, and automation to business customers.