Telecom Argentina (NYSE:TEO) Stock Price Down 4.3% – Should You Sell?

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

Analysts Set New Price Targets

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

Telecom Argentina Stock Up 1.2 %

The firm’s 50-day moving average price is $11.39 and its two-hundred day moving average price is $8.68. 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 $5.12 billion, a PE ratio of -66.05 and a beta of 0.92.

Institutional Investors Weigh In On Telecom Argentina

A number of institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of Telecom Argentina in the third quarter valued at about $80,000. Stifel Financial Corp acquired a new stake in shares of Telecom Argentina during the 3rd quarter valued at approximately $91,000. PFG Investments LLC purchased a new stake in shares of Telecom Argentina during the 2nd quarter worth approximately $104,000. Centiva Capital LP acquired a new stake in shares of Telecom Argentina in the 3rd quarter worth approximately $123,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Telecom Argentina in the 2nd quarter valued at approximately $174,000.

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.