Telecom Argentina (NYSE:TEO) Shares Gap Up – Still a Buy?

Telecom Argentina S.A. (NYSE:TEO) gapped up prior to trading on Thursday . The stock had previously closed at $12.13, but opened at $12.38. Telecom Argentina shares last traded at $12.12, with a volume of 18,508 shares traded.

Wall Street Analyst Weigh In

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

Telecom Argentina Price Performance

The firm has a 50 day moving average of $11.89 and a 200-day moving average of $8.88. 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 market cap of $5.76 billion, a P/E ratio of -74.27 and a beta of 0.92.

Hedge Funds Weigh In On Telecom Argentina

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in Telecom Argentina in the 3rd quarter valued at $80,000. Stifel Financial Corp bought a new stake in shares of Telecom Argentina in the third quarter worth about $91,000. PFG Investments LLC bought a new stake in shares of Telecom Argentina in the second quarter worth about $104,000. Centiva Capital LP purchased a new stake in shares of Telecom Argentina in the third quarter worth about $123,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Telecom Argentina during the second quarter valued at approximately $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.