Telecom Argentina S.A. (NYSE:TEO – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.39 and traded as high as $13.39. Telecom Argentina shares last traded at $12.76, with a volume of 249,446 shares traded.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on TEO shares. Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their price objective for the company from $5.70 to $6.10 in a research note on Friday, September 20th. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted 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.
Read Our Latest Research Report on TEO
Telecom Argentina Stock Performance
Institutional Trading of Telecom Argentina
Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Telecom Argentina by 113.3% during the 4th 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 last quarter. XTX Topco Ltd acquired a new position in Telecom Argentina in the third quarter valued at approximately $80,000. Stifel Financial Corp acquired a new position in Telecom Argentina in the third quarter valued at approximately $91,000. Centiva Capital LP bought a new position in shares of Telecom Argentina during the third quarter valued at approximately $123,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Telecom Argentina during the 2nd quarter worth approximately $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.
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