Vodafone Group (NASDAQ:VOD) Shares Gap Down – Here’s Why

Vodafone Group PLC (NASDAQ:VOD – Get Free Report)’s share price gapped down prior to trading on Friday. The stock had previously closed at $16.48, but opened at $15.78. Vodafone Group shares last traded at $15.7650, with a volume of 789,470 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VOD. Barclays lowered shares of Vodafone Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 11th. Zacks Research lowered shares of Vodafone Group from a “hold” rating to a “strong sell” rating in a report on Thursday, September 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Vodafone Group in a research note on Tuesday, September 1st. The Goldman Sachs Group raised Vodafone Group from a “sell” rating to a “buy” rating in a research report on Friday, September 4th. Finally, Wall Street Zen cut Vodafone Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 22nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Vodafone Group presently has a consensus rating of “Reduce” and an average target price of $10.57.

View Our Latest Stock Analysis on Vodafone Group

Vodafone Group Stock Performance

The company has a fifty day simple moving average of $16.44 and a 200 day simple moving average of $15.50. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Institutional Trading of Vodafone Group

A number of institutional investors and hedge funds have recently bought and sold shares of VOD. Bayban increased its stake in Vodafone Group by 6,696.7% during the 1st quarter. Bayban now owns 2,039 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 2,009 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Vodafone Group during the first quarter valued at approximately $34,000. Manchester Capital Management LLC raised its holdings in Vodafone Group by 207.6% in the 4th quarter. Manchester Capital Management LLC now owns 3,282 shares of the cell phone carrier’s stock worth $43,000 after acquiring an additional 2,215 shares during the last quarter. Assetmark Inc. lifted its position in Vodafone Group by 31.5% in the 1st quarter. Assetmark Inc. now owns 2,992 shares of the cell phone carrier’s stock valued at $45,000 after acquiring an additional 717 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Vodafone Group in the 2nd quarter valued at approximately $45,000. 7.84% of the stock is currently owned by institutional investors.

Vodafone Group Company Profile

(Get Free Report)

Vodafone Group Plc is a telecommunications company headquartered in the United Kingdom. It provides mobile voice and data services, fixed-line broadband, digital television and related communications services to consumers and businesses.

The company also serves enterprise customers through Vodafone Business, offering connectivity, cloud and hosting services, cybersecurity, unified communications, and Internet of Things solutions. Vodafone’s operations and partnerships span several European markets and countries in Africa, with services delivered through mobile and fixed networks.

Vodafone traces its origins to the mobile telecommunications business of Racal Electronics and became an independent company in 1991.

Further Reading

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