JPMorgan Chase & Co. Initiates Coverage on Orange (NYSE:ORAN)

Investment analysts at JPMorgan Chase & Co. began coverage on shares of Orange (NYSE:ORAN) in a note issued to investors on Wednesday, Marketbeat reports. The firm set an “overweight” rating on the technology company’s stock.

Separately, StockNews.com raised shares of Orange from a “hold” rating to a “buy” rating in a research note on Monday, February 19th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.08.

Orange Stock Performance

Shares of NYSE ORAN opened at $11.35 on Wednesday. Orange has a 1 year low of $10.97 and a 1 year high of $13.08. The firm’s 50 day moving average price is $11.50 and its 200 day moving average price is $11.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.79 and a current ratio of 0.83.

Hedge Funds Weigh In On Orange

A number of hedge funds have recently made changes to their positions in ORAN. JPMorgan Chase & Co. raised its stake in shares of Orange by 384.1% in the 1st quarter. JPMorgan Chase & Co. now owns 88,800 shares of the technology company’s stock valued at $1,049,000 after acquiring an additional 70,455 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Orange by 12.2% in the 1st quarter. Bank of New York Mellon Corp now owns 34,861 shares of the technology company’s stock valued at $412,000 after acquiring an additional 3,787 shares during the period. HighTower Advisors LLC purchased a new position in shares of Orange in the 1st quarter valued at $147,000. Citigroup Inc. raised its stake in shares of Orange by 14.3% in the 1st quarter. Citigroup Inc. now owns 118,777 shares of the technology company’s stock valued at $1,404,000 after acquiring an additional 14,884 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Orange by 12.1% in the 1st quarter. Bank of Montreal Can now owns 31,199 shares of the technology company’s stock valued at $374,000 after acquiring an additional 3,359 shares during the period.

About Orange

Orange SA provides various fixed telephony and mobile telecommunications, data transmission, and other value-added services to customers, businesses, and other telecommunications operators in France and internationally. The company operates through France; Spain and Other European Countries; The Africa and Middle East; Enterprise; Orange business; Totem; International Carriers & Shared Services; and Mobile Financial Services segments.