Chorus (OTCMKTS:CHRYY) Shares Gap Up – Still a Buy?

Chorus Ltd. (OTCMKTS:CHRYYGet Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $26.55, but opened at $27.7240. Chorus shares last traded at $27.7240, with a volume of 246 shares traded.

Chorus Price Performance

The stock’s fifty day simple moving average is $26.46 and its 200-day simple moving average is $26.37. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 8.05.

Chorus Company Profile

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Chorus Limited is New Zealand’s largest provider of fixed-line telecommunications infrastructure. Established in December 2011 following a demerger from Telecom New Zealand, the company owns and operates the fibre optic and copper network that forms the backbone of the country’s broadband and voice services.

Chorus specialises in wholesale network access, delivering fibre-to-the-premises (FTTP), fibre-to-the-cabinet (FTTC) and copper-based broadband connections to retail service providers such as Spark, 2degrees and Vodafone.

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