Singapore Telecommunications (OTCMKTS:SGAPY) Shares Gap Down – Here’s What Happened

Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) shares gapped down prior to trading on Friday. The stock had previously closed at $33.43, but opened at $32.19. Singapore Telecommunications shares last traded at $32.19, with a volume of 644 shares trading hands.

Analysts Set New Price Targets

SGAPY has been the subject of a number of research reports. Zacks Research upgraded Singapore Telecommunications to a “hold” rating in a report on Thursday, May 28th. Phillip Securities upgraded shares of Singapore Telecommunications from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy”.

Singapore Telecommunications Stock Performance

The business has a 50-day simple moving average of $34.63 and a two-hundred day simple moving average of $35.76. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Singapore Telecommunications Company Profile

Singapore Telecommunications Limited, commonly known as Singtel, is a communications technology group headquartered in Singapore. The company provides mobile and fixed-line telecommunications, broadband, digital television, and related digital services to consumers and businesses. Through its enterprise operations, Singtel also offers information and communications technology services, including cloud computing, cybersecurity, managed connectivity, data-center solutions and digital infrastructure.

Singtel serves customers primarily in Singapore and Australia, where it operates through its Optus business.