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

Telecom Argentina S.A. (NYSE:TEO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $11.09, but opened at $10.50. Telecom Argentina shares last traded at $10.96, with a volume of 96,281 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TEO. The Goldman Sachs Group upped their target price 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. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Telecom Argentina Trading Up 2.0 %

The firm has a market cap of $5.17 billion, a P/E ratio of -66.72 and a beta of 0.92. The stock has a 50 day simple moving average of $12.53 and a 200-day simple moving average of $10.38. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On Telecom Argentina

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted 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 purchasing an additional 2,081 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Telecom Argentina during the 4th quarter valued at about $75,000. XTX Topco Ltd bought a new position in shares of Telecom Argentina in the 3rd quarter valued at about $80,000. Stifel Financial Corp purchased a new position in Telecom Argentina in the third quarter worth about $91,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Telecom Argentina during the fourth quarter worth approximately $106,000.

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.