Telecom Argentina (NYSE:TEO) Stock Passes Above 200 Day Moving Average – Here’s Why

Telecom Argentina S.A. (NYSE:TEO) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.86 and traded as high as $13.10. Telecom Argentina shares last traded at $12.85, with a volume of 216,028 shares.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group lifted their price objective 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 Stock Down 4.9 %

The company has a fifty day simple moving average of $13.04 and a 200-day simple moving average of $9.89. 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 $5.27 billion, a P/E ratio of -67.99 and a beta of 0.93.

Institutional Trading of Telecom Argentina

Several hedge funds have recently bought and sold shares of TEO. JGP Global Gestao de Recursos Ltda. bought a new stake in Telecom Argentina during the fourth quarter valued at about $853,000. Cubist Systematic Strategies LLC bought a new stake in Telecom Argentina during the second quarter valued at about $334,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Telecom Argentina in the second quarter valued at about $174,000. Centiva Capital LP purchased a new position in shares of Telecom Argentina in the third quarter valued at about $123,000. Finally, Stifel Financial Corp purchased a new position in shares of Telecom Argentina in the third quarter valued at about $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.