Telecom Argentina (NYSE:TEO) Sets New 52-Week High – Here’s What Happened

Telecom Argentina S.A. (NYSE:TEO)’s share price reached a new 52-week high on Monday . The stock traded as high as $15.05 and last traded at $14.66, with a volume of 67619 shares traded. The stock had previously closed at $14.18.

Wall Street Analyst Weigh In

TEO has been the topic of a number of recent research reports. StockNews.com raised Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised their price target on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a research report on Wednesday, November 20th. Finally, Scotiabank lowered Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and increased their price objective for the company from $5.70 to $6.10 in a research note on Friday, September 20th.

Telecom Argentina Trading Up 2.3 %

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 firm’s 50 day moving average price is $12.39 and its 200 day moving average price is $9.11. The stock has a market capitalization of $6.25 billion, a P/E ratio of -80.55 and a beta of 0.93.

Institutional Investors Weigh In On Telecom Argentina

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings 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 acquiring an additional 2,081 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Telecom Argentina in the 3rd quarter worth about $80,000. Stifel Financial Corp purchased a new stake in shares of Telecom Argentina in the 3rd quarter worth about $91,000. Centiva Capital LP bought a new stake in shares of Telecom Argentina during the 3rd quarter valued at about $123,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Telecom Argentina during the second quarter valued at about $334,000.

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.