Vodafone Group (NASDAQ:VOD) Shares Gap Down - Here's What Happened

Key Points

• Vodafone shares fell 3.4% at the open, dropping from a prior close of $17.52 to $16.73, with 372,352 shares traded.
• Analyst sentiment remains mixed: recent upgrades from New Street Research and Goldman Sachs were offset by downgrades from Barclays and Bank of America. Overall, analysts rate the stock “Hold”, with an average price target of $10.57.
• Institutional ownership activity was positive, with several hedge funds increasing their positions; institutional investors and hedge funds collectively own 7.84% of Vodafone.

Vodafone Group PLC (NASDAQ:VOD - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $17.52, but opened at $16.73. Vodafone Group shares last traded at $16.7370, with a volume of 372,352 shares trading hands.

Analyst Ratings Changes

VOD has been the subject of a number of recent analyst reports. New Street Research upgraded shares of Vodafone Group from a "neutral" rating to a "buy" rating in a research report on Friday, July 10th. Barclays downgraded shares of Vodafone Group from an "overweight" rating to an "equal weight" rating in a research report on Thursday, June 11th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Vodafone Group in a report on Tuesday, September 1st. Bank of America lowered shares of Vodafone Group from a "neutral" rating to an "underperform" rating and set a $13.13 price objective on the stock. in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group raised Vodafone Group from a "sell" rating to a "buy" rating in a report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Vodafone Group has an average rating of "Hold" and an average target price of $10.57.

Vodafone Group Trading Down 3.4%

The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $16.13 and a 200-day moving average of $15.29.

Hedge Funds Weigh In On Vodafone Group

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC increased its stake in Vodafone Group by 12.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 81,223 shares of the cell phone carrier's stock worth $1,074,000 after purchasing an additional 9,281 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Vodafone Group by 77.8% in the second quarter. Tidal Investments LLC now owns 22,620 shares of the cell phone carrier's stock worth $299,000 after buying an additional 9,895 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Vodafone Group in the second quarter worth $805,000. Engineers Gate Manager LP grew its holdings in shares of Vodafone Group by 256.9% during the second quarter. Engineers Gate Manager LP now owns 68,530 shares of the cell phone carrier's stock valued at $906,000 after buying an additional 49,330 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in Vodafone Group by 313.1% during the second quarter. Integrated Wealth Concepts LLC now owns 107,388 shares of the cell phone carrier's stock valued at $1,420,000 after buying an additional 81,393 shares during the period. 7.84% of the stock is currently owned by institutional investors and hedge funds.

Vodafone Group Company Profile

Vodafone Group Plc is a British multinational telecommunications company that provides mobile and fixed-line connectivity, broadband, voice, messaging and related digital services. Its offerings serve individual consumers, households, businesses and public-sector organizations, with services delivered through local Vodafone operations and partner networks.

The company also provides enterprise communications and technology solutions, including cloud and hosting services, cybersecurity, the Internet of Things, unified communications and managed connectivity.

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