Telecom Argentina (NYSE:TEO) Rating Increased to Hold at StockNews.com

Telecom Argentina (NYSE:TEO) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other equities analysts have also recently issued reports on the company. Scotiabank cut Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their price objective for the company from $5.70 to $6.10 in a research note on Friday, September 20th. The Goldman Sachs Group initiated coverage on shares of Telecom Argentina in a research note on Wednesday, October 23rd. They issued a “sell” rating for the company.

Telecom Argentina Price Performance

Shares of NYSE TEO opened at $12.85 on Wednesday. The business’s fifty day simple moving average is $9.25 and its 200-day simple moving average is $8.07. Telecom Argentina has a 12-month low of $5.52 and a 12-month high of $14.13. 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in Telecom Argentina in the third quarter valued at approximately $80,000. Stifel Financial Corp acquired a new position in shares of Telecom Argentina in the 3rd quarter valued at $91,000. PFG Investments LLC purchased a new position in shares of Telecom Argentina in the 2nd quarter valued at $104,000. Centiva Capital LP acquired a new stake in Telecom Argentina during the 3rd quarter worth $123,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Telecom Argentina in the second quarter valued at $174,000.

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.