Telecom Argentina (NYSE:TEO) Trading Up 7.2% – Still a Buy?

Telecom Argentina S.A. (NYSE:TEO) traded up 7.2% on Thursday . The company traded as high as $13.50 and last traded at $13.50. 84,728 shares traded hands during trading, a decline of 58% from the average session volume of 200,579 shares. The stock had previously closed at $12.59.

Wall Street Analysts Forecast Growth

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

Telecom Argentina Stock Performance

The company has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $9.09. 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 stock has a market cap of $6.11 billion, a P/E ratio of -78.77 and a beta of 0.92.

Hedge Funds Weigh In On Telecom Argentina

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in 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 period. XTX Topco Ltd bought a new position in Telecom Argentina in the 3rd quarter worth approximately $80,000. Stifel Financial Corp bought a new position in shares of Telecom Argentina during the third quarter worth $91,000. PFG Investments LLC purchased a new stake in shares of Telecom Argentina in the second quarter worth about $104,000. Finally, Centiva Capital LP purchased a new stake in shares of Telecom Argentina during the 3rd quarter worth approximately $123,000.

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.