Zte Corp. (OTCMKTS:ZTCOY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “ZTE Corporation is engaged in providing telecom equipment and networking solutions to telecom operators. The company offers wireless communications systems, wireline switch and access equipment, optical and data communications equipment, mobile phone handsets, data card products, and telecommunications software systems. It also engages in the production of remote control switch systems, multimedia communications systems, and communications transmission systems. The company also provides technical design, development, consultation, and related services for the research, manufacture and production of mobile communications systems equipment, satellite communications, microwave communications equipment, beepers, computer hardware and software, closed-circuit TVs, microwave communications, automated signal control, computer information processing, process monitoring systems, and fire alarm systems. ZTE Corporation is based in Shenzhen, the People’s Republic of China. “

Shares of Zte Corp. (ZTCOY) traded down 0.56% on Friday, hitting $5.37. The stock had a trading volume of 500 shares. Zte Corp. has a 12 month low of $2.66 and a 12 month high of $5.40. The company has a 50 day moving average price of $4.99 and a 200-day moving average price of $4.16. The stock’s market cap is $11.25 billion.

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About Zte Corp.

ZTE Corporation provides telecommunications and information technology worldwide. It operates through three segments: Carriers’ Networks, Consumer Business, and Government & Corporate Business. The company offers wireless products, such as base stations, network optimization tools, controllers, GoTa products, network management products, and microwave products; optical transmission products, including WDM-OTN and NG-SDH/MSTP; and data communication products that comprise Ethernet switch, IPTN, router and BMSG, and SDN and NFV products.

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