Telecom Argentina (NYSE:TEO) Stock Price Down 3.3% – Should You Sell?

Telecom Argentina S.A. (NYSE:TEO)’s share price dropped 3.3% during trading on Wednesday . The stock traded as low as $12.86 and last traded at $12.88. Approximately 121,739 shares traded hands during trading, a decline of 63% from the average daily volume of 325,521 shares. The stock had previously closed at $13.32.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEO. The Goldman Sachs Group lifted their price target 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. Scotiabank downgraded shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their target price for the stock from $5.70 to $6.10 in a research report on Friday, September 20th. Finally, StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Telecom Argentina Stock Down 3.8 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40. The firm has a market capitalization of $5.20 billion, a P/E ratio of -67.11 and a beta of 0.93. The stock has a fifty day moving average price of $13.05 and a two-hundred day moving average price of $9.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Telecom Argentina by 113.3% during the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 2,081 shares during the period. XTX Topco Ltd bought a new position in shares of Telecom Argentina during the third quarter valued at approximately $80,000. Stifel Financial Corp acquired a new stake in shares of Telecom Argentina during the 3rd quarter worth approximately $91,000. Centiva Capital LP bought a new stake in shares of Telecom Argentina in the 3rd quarter worth approximately $123,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Telecom Argentina during the 2nd quarter valued at approximately $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.