Telecom Argentina (NYSE:TEO) Shares Gap Down – Here’s What Happened

Telecom Argentina S.A. (NYSE:TEO) gapped down prior to trading on Tuesday . The stock had previously closed at $11.09, but opened at $10.50. Telecom Argentina shares last traded at $10.96, with a volume of 96,281 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Telecom Argentina Stock Performance

The stock has a market capitalization of $4.86 billion, a P/E ratio of -62.62 and a beta of 0.92. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $12.56 and a two-hundred day moving average price of $10.37.

Institutional Trading of Telecom Argentina

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Telecom Argentina by 113.3% in the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,081 shares during the period. Mariner LLC raised its position in shares of Telecom Argentina by 8.1% in the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider’s stock worth $413,000 after buying an additional 2,467 shares in the last quarter. Advisors Preferred LLC bought a new stake in Telecom Argentina during the fourth quarter valued at $75,000. XTX Topco Ltd grew its position in Telecom Argentina by 64.7% during the fourth quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider’s stock worth $220,000 after buying an additional 6,878 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in Telecom Argentina in the 4th quarter worth about $106,000.

About Telecom Argentina

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.