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

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

Wall Street Analysts Forecast Growth

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

Telecom Argentina Stock Performance

The stock has a market capitalization of $5.33 billion, a P/E ratio of -68.77 and a beta of 0.92. The company has a 50 day simple moving average of $11.22 and a 200-day simple moving average of $8.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Institutional Investors Weigh In On Telecom Argentina

Institutional investors and hedge funds have recently bought and sold shares of the business. PFG Investments LLC purchased a new stake in shares of Telecom Argentina during the second quarter valued at approximately $104,000. Cubist Systematic Strategies LLC purchased a new position in shares of Telecom Argentina during the 2nd quarter worth $334,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Telecom Argentina during the 2nd quarter valued at $174,000. Centiva Capital LP bought a new stake in shares of Telecom Argentina during the 3rd quarter valued at $123,000. Finally, Stifel Financial Corp bought a new stake in shares of Telecom Argentina during the 3rd quarter valued at $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.