Telecom Argentina (NYSE:TEO) Stock Passes Above 200 Day Moving Average – Here’s Why

Telecom Argentina S.A. (NYSE:TEO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.86 and traded as high as $13.10. Telecom Argentina shares last traded at $12.85, with a volume of 216,028 shares traded.

Analyst Upgrades and Downgrades

TEO has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a research report on Wednesday, November 20th. 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 company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The business has a 50-day simple moving average of $13.04 and a 200-day simple moving average of $9.89. The firm has a market capitalization of $5.27 billion, a PE ratio of -67.99 and a beta of 0.93.

Institutional Investors Weigh In On Telecom Argentina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC bought a new position in shares of Telecom Argentina during the fourth quarter valued at approximately $75,000. JGP Global Gestao de Recursos Ltda. bought a new position in shares of Telecom Argentina during the fourth quarter valued at approximately $853,000. GAMMA Investing LLC grew its stake in shares of Telecom Argentina by 113.3% during the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after buying an additional 2,081 shares during the last quarter. XTX Topco Ltd bought a new position in Telecom Argentina in the third quarter worth approximately $80,000. Finally, Stifel Financial Corp bought a new position in Telecom Argentina in the third quarter worth approximately $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.