Telecom Argentina (NYSE:TEO) Stock Price Down 4.3% – What’s Next?

Telecom Argentina S.A. (NYSE:TEO) traded down 4.3% during mid-day trading on Wednesday . The company traded as low as $12.56 and last traded at $12.77. 164,527 shares were traded during mid-day trading, a decline of 17% from the average session volume of 198,674 shares. The stock had previously closed at $13.34.

Analysts Set New Price Targets

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

Telecom Argentina Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40. The firm has a market cap of $5.33 billion, a P/E ratio of -68.77 and a beta of 0.92. The firm’s fifty day moving average price is $11.22 and its 200 day moving average price is $8.64.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina during the 2nd quarter valued at approximately $334,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Telecom Argentina in the 2nd quarter valued at $174,000. Centiva Capital LP purchased a new stake in shares of Telecom Argentina in the 3rd quarter valued at $123,000. PFG Investments LLC purchased a new stake in shares of Telecom Argentina in the 2nd quarter valued at $104,000. Finally, Stifel Financial Corp purchased a new stake in Telecom Argentina during the third quarter worth $91,000.

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.