Telecom Argentina (NYSE:TEO) Stock Price Down 6% – What’s Next?

Telecom Argentina S.A. (NYSE:TEO) traded down 6% during mid-day trading on Friday . The company traded as low as $11.76 and last traded at $11.65. 13,250 shares changed hands during trading, a decline of 94% from the average session volume of 240,280 shares. The stock had previously closed at $12.40.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Telecom Argentina Stock Down 6.5 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The firm’s 50-day simple moving average is $12.93 and its two-hundred day simple moving average is $10.04. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -64.47 and a beta of 0.92.

Institutional Trading of Telecom Argentina

Institutional investors and hedge funds have recently modified their holdings of the business. JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Telecom Argentina during the fourth quarter valued at approximately $853,000. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina during the second quarter worth approximately $334,000. B. Riley Wealth Advisors Inc. acquired a new position in Telecom Argentina during the second quarter worth approximately $174,000. Centiva Capital LP purchased a new position in shares of Telecom Argentina in the 3rd quarter valued at $123,000. Finally, Stifel Financial Corp purchased a new position in shares of Telecom Argentina in the 3rd quarter valued at $91,000.

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.