Sunrise Communications (NASDAQ:SNRE) Shares Gap Up – What’s Next?

Sunrise Communications AG (NASDAQ:SNRE)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $52.36, but opened at $53.58. Sunrise Communications shares last traded at $53.50, with a volume of 30,541 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sunrise Communications Stock Performance

The company’s 50 day moving average price is $52.15 and its two-hundred day moving average price is $48.43.

Sunrise Communications (NASDAQ:SNRE) last posted its quarterly earnings results on Monday, May 19th. The company reported ($0.03) earnings per share for the quarter. The firm had revenue of $803.10 million for the quarter.

Hedge Funds Weigh In On Sunrise Communications

A hedge fund recently bought a new stake in Sunrise Communications stock. Acadian Asset Management LLC acquired a new stake in shares of Sunrise Communications AG (NASDAQ:SNRE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,065 shares of the company’s stock, valued at approximately $195,000.

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.