The company is trading down since yesterday’s close of $17.25. Shares last traded at $16.88 slightly below the 50 day moving average of $19.92 and a bit lower than the 200 day moving average of $19.90. The 50 day moving average was down by -15.27% whereas the 200 day average was down by -15.17%.
Traders are more bearish of late at least if you consider the uptick in short interest. The firm saw a rise in short interest of 29.39% between June 15, 2017 and May 31, 2017. Short shares grew from 2,834 to 3,667 over that period. Days to cover increased from 2.4 to 3.0 and the percentage of shorted shares was 0.00% on May 31.
B Communications Ltd., incorporated in 1999, is focused on the telecommunications industry. The Company has ownership interest in Bezeq The Israel Telecommunications Corp. Ltd. (Bezeq). Bezeq is the principal provider of communications services in Israel. Bezeq and its subsidiaries implement and provide a range of telecommunications operations and services, including domestic fixed-line, cellular, Internet services, international communication services, multi-channel television, satellite broadcasts, customer call centers, maintenance and development of communications infrastructures, provision of communications services to other communications providers, television broadcasts, and supply and maintenance of equipment on customer premises, such as network endpoint services..
These firms have also modified their investment in BCOM. As of quarter end Tower Research Capital LLC (trc) had disposed of 6 shares trimming its holdings by 5.7%. The value in dollars went from $2,000 to $2,000 decreasing 0.0% quarter to quarter. As of the end of the quarter Aqr Capital Management LLC had bought a total of 15,718 shares growing its stake by 9.4%. The value of the company’s investment in B Communications Ltd. – Ordinar increased from $3,646,000 to $3,648,000 a change of $2,000 quarter over quarter.
As of the end of the quarter Edmond De Rothschild Holding S.a. had bought a total of 3,900 shares growing its position 37.1%. The value of the investment in (BCOM) increased from $230,000 to $290,000 a change of 26.1% since the last quarter. As of quarter end Bank Of America Corp /de/ had sold a total of 4,404 shares trimming its holdings by 85.0%. The value of the total investment in B Communications Ltd. – Ordinar went from $105,000 to $16,000 a change of 84.8% for the reporting period.
On September 20 the company was upgraded to “Buy” from “Hold” by analysts at Chardan Capital. On March 10 the stock rating was downgraded from “Buy” to “Hold” in a report issued by Chardan Capital.
Chardan Capital added the stock to its research portfolio giving it an initial rating of “Buy”.