BT Group (OTCMKTS:BTGOF) Stock Price Down 3.8% – Here’s What Happened

BT Group plc (OTCMKTS:BTGOF)’s stock price fell 3.8% on Tuesday . The stock traded as low as $2.20 and last traded at $2.25. 28,719 shares traded hands during trading, an increase of 18% from the average session volume of 24,288 shares. The stock had previously closed at $2.34.

Analysts Set New Price Targets

BTGOF has been the subject of several research analyst reports. New Street Research lowered BT Group to a “neutral” rating in a research report on Tuesday, September 30th. Citigroup reaffirmed a “sell” rating on shares of BT Group in a research note on Monday, September 1st. BNP Paribas cut shares of BT Group to an “underperform” rating in a report on Thursday, October 2nd. Finally, Morgan Stanley reissued an “overweight” rating on shares of BT Group in a research report on Monday, August 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

BT Group Price Performance

The firm’s 50 day simple moving average is $2.50 and its 200-day simple moving average is $2.55.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BT Group stock. Boston Common Asset Management LLC purchased a new position in shares of BT Group plc (OTCMKTS:BTGOF) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 53,804 shares of the company’s stock, valued at approximately $138,000. 38.14% of the stock is owned by institutional investors.

About BT Group

BT Group plc provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through Consumer, Enterprise, Global, and Openreach segments. The company builds, owns, and operates fixed and mobile networks; and designs, builds, markets, sells, and supports network access, connectivity, and related solutions.