Vodafone Group (NASDAQ:VOD) Reaches New 52-Week High - Here's What Happened

Key Points

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Vodafone Group PLC (NASDAQ:VOD - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $11.75 and last traded at $11.70, with a volume of 3981969 shares changing hands. The stock had previously closed at $11.67.

Analysts Set New Price Targets

A number of research firms have weighed in on VOD. Berenberg Bank raised Vodafone Group to a "hold" rating in a report on Thursday, June 26th. Zacks Research raised Vodafone Group to a "hold" rating in a report on Tuesday, August 12th. Morgan Stanley began coverage on Vodafone Group in a report on Wednesday, July 2nd. They set an "equal weight" rating on the stock. Wall Street Zen downgraded Vodafone Group from a "buy" rating to a "hold" rating in a report on Tuesday, May 27th. Finally, The Goldman Sachs Group downgraded Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 price objective on the stock. in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Vodafone Group presently has an average rating of "Reduce" and a consensus target price of $136.00.

Vodafone Group Stock Up 0.5%

The firm has a market capitalization of $28.97 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 0.57 and a beta of 0.62. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $11.01 and a 200 day moving average price of $9.91.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new position in Vodafone Group during the 2nd quarter worth $304,000. Rexford Capital Inc. acquired a new position in Vodafone Group during the 2nd quarter worth $89,000. Evergreen Capital Management LLC lifted its holdings in Vodafone Group by 14.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 22,048 shares of the cell phone carrier's stock worth $241,000 after buying an additional 2,747 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Vodafone Group by 235.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,548,454 shares of the cell phone carrier's stock worth $16,507,000 after buying an additional 1,086,405 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Vodafone Group by 160.0% during the 2nd quarter. Corient Private Wealth LLC now owns 94,301 shares of the cell phone carrier's stock worth $1,005,000 after buying an additional 58,025 shares in the last quarter. Institutional investors and hedge funds own 7.84% of the company's stock.

About Vodafone Group

Vodafone Group Public Limited Company provides telecommunication services in Europe and internationally. It offers mobile connectivity services comprising end-to-end services for mobile voice and data, messaging, device management, BYOx, and telecoms management, as well as professional and consulting services; and fixed line connectivity, such as fixed voice and data, broadband, software-defined networks, managed WAN, LAN, ethernet, and satellite; and financial services, as well as business and merchant services.