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

Telecom Argentina S.A. (NYSE:TEO) shares gapped down prior to trading 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 trading hands.

Analyst Ratings Changes

Several research firms have recently issued reports on TEO. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. 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 note on Wednesday, November 20th.

Telecom Argentina Stock Up 2.0 %

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

Institutional Trading of Telecom Argentina

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in Telecom Argentina by 113.3% in the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after buying an additional 2,081 shares during the period. Advisors Preferred LLC bought a new position in Telecom Argentina in the 4th quarter worth about $75,000. XTX Topco Ltd bought a new position in Telecom Argentina in the 3rd quarter worth about $80,000. Stifel Financial Corp purchased a new position in shares of Telecom Argentina during the third quarter worth approximately $91,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Telecom Argentina during the fourth quarter valued at approximately $106,000.

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.