Telecom Argentina (NYSE:TEO) Trading 7.2% Higher – What’s Next?

Telecom Argentina S.A. (NYSE:TEO)’s stock price shot up 7.2% on Thursday . The stock traded as high as $13.50 and last traded at $13.50. 84,728 shares traded hands during trading, a decline of 58% from the average session volume of 200,579 shares. The stock had previously closed at $12.59.

Wall Street Analyst Weigh In

TEO has been the subject of several recent research reports. Scotiabank downgraded Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their price objective for the company from $5.70 to $6.10 in a report on Friday, September 20th. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group upped their price objective on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a report on Wednesday, November 20th.

Telecom Argentina Stock Performance

The firm has a 50-day moving average price of $12.39 and a two-hundred day moving average price of $9.09. 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 firm has a market cap of $6.11 billion, a PE ratio of -78.77 and a beta of 0.92.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Telecom Argentina by 113.3% during the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 2,081 shares during the last quarter. XTX Topco Ltd purchased a new stake in Telecom Argentina during the 3rd quarter worth about $80,000. Stifel Financial Corp acquired a new position in shares of Telecom Argentina during the 3rd quarter worth about $91,000. Centiva Capital LP purchased a new position in shares of Telecom Argentina in the 3rd quarter valued at about $123,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Telecom Argentina during the second quarter worth approximately $334,000.

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.