Telecom Argentina (NYSE:TEO) Share Price Passes Above 200 Day Moving Average of $7.52

Telecom Argentina S.A. (NYSE:TEO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.52 and traded as high as $7.55. Telecom Argentina shares last traded at $7.34, with a volume of 75,245 shares.

Wall Street Analyst Weigh In

Several brokerages have commented on TEO. Scotiabank upgraded shares of Telecom Argentina from a “sector underperform” rating to a “sector perform” rating in a report on Tuesday, August 6th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th.

Telecom Argentina Price Performance

The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The stock has a 50-day simple moving average of $6.88 and a 200 day simple moving average of $7.51. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 173.25 and a beta of 0.93.

Institutional Trading of Telecom Argentina

Several institutional investors have recently made changes to their positions in TEO. PFG Investments LLC purchased a new position in Telecom Argentina in the second quarter valued at about $104,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Telecom Argentina during the 2nd quarter valued at about $174,000. Jump Financial LLC grew its stake in shares of Telecom Argentina by 209.1% in the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock valued at $306,000 after buying an additional 28,964 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina in the second quarter worth approximately $334,000. Finally, RWC Asset Advisors US LLC bought a new position in Telecom Argentina during the fourth quarter valued at approximately $2,212,000.

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.