Telecom Argentina (NYSE:TEO) Trading Up 3.5% – What’s Next?

Shares of Telecom Argentina S.A. (NYSE:TEO) traded up 3.5% during mid-day trading on Tuesday . The stock traded as high as $14.29 and last traded at $14.22. 33,992 shares traded hands during trading, a decline of 83% from the average session volume of 196,059 shares. The stock had previously closed at $13.74.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Scotiabank cut Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their target price for the company from $5.70 to $6.10 in a research note on Friday, September 20th. StockNews.com raised Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their price target on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a research report on Wednesday, November 20th.

Telecom Argentina Trading Down 3.0 %

The stock has a market cap of $5.74 billion, a price-to-earnings ratio of -76.33 and a beta of 0.92. The business’s 50 day simple moving average is $10.52 and its 200 day simple moving average is $8.42. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Telecom Argentina

A number of hedge funds and other institutional investors have recently bought and sold shares of TEO. XTX Topco Ltd acquired a new stake in shares of Telecom Argentina in the third quarter valued at approximately $80,000. Stifel Financial Corp bought a new stake in Telecom Argentina in the 3rd quarter valued at $91,000. PFG Investments LLC acquired a new stake in Telecom Argentina during the 2nd quarter valued at $104,000. Centiva Capital LP acquired a new position in shares of Telecom Argentina in the third quarter valued at $123,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Telecom Argentina in the second quarter valued at about $174,000.

Telecom Argentina Company Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.