Telecom Argentina (NYSE:TEO) Shares Down 5.1% – Here’s Why

Telecom Argentina S.A. (NYSE:TEO) was down 5.1% during trading on Monday . The company traded as low as $12.54 and last traded at $12.69. Approximately 132,741 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 200,516 shares. The stock had previously closed at $13.37.

Wall Street Analysts Forecast Growth

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

Telecom Argentina Stock Down 0.9 %

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 business’s 50 day moving average is $12.07 and its 200-day moving average is $8.98. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of -69.94 and a beta of 0.92.

Hedge Funds Weigh In On Telecom Argentina

Several hedge funds have recently made changes to their positions in TEO. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina during the second quarter worth $334,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Telecom Argentina during the 2nd quarter worth approximately $174,000. Centiva Capital LP bought a new position in Telecom Argentina during the third quarter worth $123,000. PFG Investments LLC bought a new stake in shares of Telecom Argentina during the 2nd quarter worth about $104,000. Finally, Stifel Financial Corp acquired a new position in Telecom Argentina in the 3rd quarter valued at about $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.