Telecom Argentina (NYSE:TEO) Hits New 12-Month High – What’s Next?

Telecom Argentina S.A. (NYSE:TEO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.79 and last traded at $13.74, with a volume of 633465 shares trading hands. The stock had previously closed at $13.48.

Wall Street Analyst Weigh In

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

Telecom Argentina Price Performance

The firm has a market cap of $5.92 billion, a P/E ratio of -74.06 and a beta of 0.92. 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 company’s 50-day moving average is $10.63 and its two-hundred day moving average is $8.46.

Hedge Funds Weigh In On Telecom Argentina

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