Telecom Argentina (NYSE:TEO) Stock Price Up 2.9% – Time to Buy?

Telecom Argentina S.A. (NYSE:TEO) shares rose 2.9% during trading on Friday . The stock traded as high as $13.39 and last traded at $13.28. Approximately 66,829 shares were traded during trading, a decline of 67% from the average daily volume of 199,798 shares. The stock had previously closed at $12.90.

Wall Street Analysts Forecast Growth

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

Telecom Argentina Stock Performance

The stock’s 50 day moving average is $11.89 and its two-hundred day moving average is $8.89. The firm has a market capitalization of $5.76 billion, a P/E ratio of -74.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TEO. XTX Topco Ltd acquired a new stake in shares of Telecom Argentina in the 3rd quarter valued at approximately $80,000. Stifel Financial Corp bought a new stake in Telecom Argentina in the third quarter valued at approximately $91,000. Centiva Capital LP acquired a new stake in Telecom Argentina in the third quarter worth $123,000. Cubist Systematic Strategies LLC bought a new position in shares of Telecom Argentina during the second quarter worth $334,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Telecom Argentina in the 2nd quarter valued at $174,000.

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.