Zte Corp. (ZTCOY) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Zte Corp. (OTCMKTS:ZTCOY) from a hold rating to a sell rating in a research note published on Wednesday, June 28th.

According to Zacks, “ZTE Corporation is engaged in providing telecom equipment and networking solutions to telecom operators. The company offers wireless communications systems, wireline switch and access equipment, optical and data communications equipment, mobile phone handsets, data card products, and telecommunications software systems. It also engages in the production of remote control switch systems, multimedia communications systems, and communications transmission systems. The company also provides technical design, development, consultation, and related services for the research, manufacture and production of mobile communications systems equipment, satellite communications, microwave communications equipment, beepers, computer hardware and software, closed-circuit TVs, microwave communications, automated signal control, computer information processing, process monitoring systems, and fire alarm systems. ZTE Corporation is based in Shenzhen, the People’s Republic of China. “

Separately, Jefferies Group LLC reiterated a buy rating on shares of Zte Corp. in a research report on Friday, April 14th.

Shares of Zte Corp. (ZTCOY) traded up 0.290% during mid-day trading on Wednesday, reaching $5.185. 1,720 shares of the company’s stock traded hands. The firm’s market capitalization is $10.86 billion. The stock has a 50-day moving average price of $4.74 and a 200 day moving average price of $3.85. Zte Corp. has a 12-month low of $2.58 and a 12-month high of $5.40.

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