Vodafone Group (NASDAQ:VOD) Sets New 12-Month High – Here’s Why

Vodafone Group PLC (NASDAQ:VOD)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $17.35 and last traded at $17.31, with a volume of 3246233 shares. The stock had previously closed at $16.90.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VOD. The Goldman Sachs Group upgraded shares of Vodafone Group from a “sell” rating to a “buy” rating in a report on Friday, September 4th. Barclays downgraded Vodafone Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 11th. DZ Bank downgraded Vodafone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen cut Vodafone Group from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Vodafone Group in a report on Tuesday, September 1st. Three investment 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 presently has an average rating of “Hold” and a consensus target price of $10.57.

Vodafone Group Price Performance

The firm’s 50 day simple moving average is $15.52 and its 200-day simple moving average is $15.20. 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

Institutional investors and hedge funds have recently bought and sold shares of the business. RFG Advisory LLC acquired a new stake in shares of Vodafone Group during the second quarter worth about $451,000. NewEdge Advisors LLC boosted its holdings in shares of Vodafone Group by 12.2% in the second quarter. NewEdge Advisors LLC now owns 22,786 shares of the cell phone carrier’s stock valued at $301,000 after acquiring an additional 2,469 shares in the last quarter. IFP Advisors Inc raised its holdings in Vodafone Group by 580.5% during the second quarter. IFP Advisors Inc now owns 10,582 shares of the cell phone carrier’s stock worth $140,000 after purchasing an additional 9,027 shares in the last quarter. Corient Private Wealth LP boosted its holdings in Vodafone Group by 12.0% in the 2nd quarter. Corient Private Wealth LP now owns 125,698 shares of the cell phone carrier’s stock valued at $1,665,000 after purchasing an additional 13,503 shares in the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in shares of Vodafone Group in the 2nd quarter valued at approximately $403,000. Hedge funds and other institutional investors own 7.84% of the company’s stock.

Vodafone Group Company Profile

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.