Telecom Argentina (NYSE:TEO) Stock Price Down 6% – What’s Next?

Telecom Argentina S.A. (NYSE:TEO)’s share price dropped 6% on Friday . The company traded as low as $11.76 and last traded at $11.65. Approximately 13,250 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 240,280 shares. The stock had previously closed at $12.40.

Analyst Upgrades and Downgrades

TEO has been the subject of a number of analyst reports. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group increased their price objective on shares of Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th.

Telecom Argentina Stock Down 6.5 %

The company has a market capitalization of $4.99 billion, a P/E ratio of -64.47 and a beta of 0.92. The firm’s 50 day moving average price is $12.93 and its two-hundred day moving average price is $10.04. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Telecom Argentina

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new position in Telecom Argentina during the second quarter worth $174,000. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina in the second quarter valued at about $334,000. Centiva Capital LP acquired a new position in Telecom Argentina during the third quarter worth about $123,000. Stifel Financial Corp acquired a new position in Telecom Argentina during the third quarter worth about $91,000. Finally, XTX Topco Ltd acquired a new position in Telecom Argentina during the third quarter worth about $80,000.

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.