Telecom Argentina (NYSE:TEO) Shares Down 3.4% – Here’s Why

Telecom Argentina S.A. (NYSE:TEO)’s stock price fell 3.4% during trading on Tuesday . The company traded as low as $13.29 and last traded at $13.44. 68,172 shares traded hands during trading, a decline of 64% from the average session volume of 191,695 shares. The stock had previously closed at $13.92.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TEO shares. The Goldman Sachs Group lifted their price objective on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research note on Wednesday. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Scotiabank downgraded shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their target price for the stock from $5.70 to $6.10 in a research note on Friday, September 20th.

Telecom Argentina Stock Down 3.3 %

The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $9.15 and a 200-day simple moving average of $8.03.

Institutional Trading of Telecom Argentina

Several institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in Telecom Argentina during the 3rd quarter worth $80,000. Stifel Financial Corp acquired a new stake in shares of Telecom Argentina during the third quarter worth about $91,000. PFG Investments LLC purchased a new stake in shares of Telecom Argentina in the 2nd quarter valued at about $104,000. Centiva Capital LP purchased a new position in Telecom Argentina during the 3rd quarter worth approximately $123,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Telecom Argentina in the second quarter valued at approximately $174,000.

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.