Telecom Argentina (NYSE:TEO) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Telecom Argentina S.A. (NYSE:TEO) saw an uptick in trading volume on Tuesday . 165,174 shares were traded during mid-day trading, a decline of 31% from the previous session’s volume of 238,248 shares.The stock last traded at $12.09 and had previously closed at $12.10.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEO. JPMorgan Chase & Co. raised shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $13.00 in a research note on Tuesday. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their price target on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th.

Telecom Argentina Trading Up 0.8 %

The firm has a market cap of $5.26 billion, a PE ratio of -68.05 and a beta of 0.92. The stock’s 50 day simple moving average is $12.42 and its 200 day simple moving average is $10.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40.

Institutional Trading of Telecom Argentina

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Telecom Argentina by 111.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock valued at $29,297,000 after acquiring an additional 1,224,369 shares during the last quarter. Bosun Asset Management LLC purchased a new stake in shares of Telecom Argentina in the fourth quarter valued at approximately $1,031,000. Bank of America Corp DE raised its holdings in shares of Telecom Argentina by 87.0% in the fourth quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider’s stock valued at $260,000 after acquiring an additional 9,621 shares in the last quarter. Freedom Investment Management Inc. purchased a new position in Telecom Argentina during the fourth quarter valued at approximately $577,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Telecom Argentina during the 4th quarter valued at $202,000.

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.