Vedanta (NYSE:VEDL) Hits New 12-Month Low at $7.11

Vedanta Ltd (NYSE:VEDL) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $7.11 and last traded at $7.15, with a volume of 6202 shares changing hands. The stock had previously closed at $7.74.

Separately, Citigroup upgraded Vedanta from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Vedanta has an average rating of “Hold”.

The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 7.56 and a beta of 1.28. The firm has a 50-day moving average of $8.89 and a 200 day moving average of $9.52.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. lifted its holdings in Vedanta by 168.4% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,151 shares of the basic materials company’s stock worth $32,000 after buying an additional 1,977 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Vedanta in the 2nd quarter valued at $47,000. Corient Capital Partners LLC bought a new stake in shares of Vedanta in the 2nd quarter valued at $104,000. O Shaughnessy Asset Management LLC increased its position in shares of Vedanta by 18.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,077 shares of the basic materials company’s stock valued at $117,000 after buying an additional 1,726 shares in the last quarter. Finally, Exane Derivatives bought a new stake in shares of Vedanta in the 2nd quarter valued at $118,000. Hedge funds and other institutional investors own 3.48% of the company’s stock.

About Vedanta (NYSE:VEDL)

Vedanta Limited operates as a diversified natural resources company in India. The company produces oil and gas, zinc, lead, silver, iron ore, copper, and aluminum. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 600 MW thermal coal- based commercial power facility in Korba; 274 MW wind power plants; and a 100 MW power plant.

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