Chorus (OTCMKTS:CHRYY) Trading Up 3.5% – Still a Buy?

Chorus Ltd. (OTCMKTS:CHRYY)’s share price rose 3.5% on Friday . The stock traded as high as $28.45 and last traded at $28.45. Approximately 549 shares changed hands during mid-day trading, an increase of 260% from the average daily volume of 152 shares. The stock had previously closed at $27.48.

Chorus Stock Performance

The stock has a 50 day simple moving average of $27.48 and a 200-day simple moving average of $26.98.

Chorus Company Profile

Chorus Limited is New Zealand’s largest provider of fixed-line telecommunications infrastructure. Established in December 2011 following a demerger from Telecom New Zealand, the company owns and operates the fibre optic and copper network that forms the backbone of the country’s broadband and voice services.

Chorus specialises in wholesale network access, delivering fibre-to-the-premises (FTTP), fibre-to-the-cabinet (FTTC) and copper-based broadband connections to retail service providers such as Spark, 2degrees and Vodafone.