Telecom Argentina (NYSE:TEO) Shares Down 3.4% – Time to Sell?

Telecom Argentina S.A. (NYSE:TEO) dropped 3.4% during mid-day trading on Tuesday . The stock traded as low as $13.29 and last traded at $13.44. Approximately 68,172 shares traded hands during trading, a decline of 64% from the average daily volume of 191,695 shares. The stock had previously closed at $13.92.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TEO. The Goldman Sachs Group initiated coverage on Telecom Argentina in a research note on Wednesday, October 23rd. They set a “sell” rating for the company. Scotiabank downgraded shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and raised their target price for the stock from $5.70 to $6.10 in a report on Friday, September 20th. Finally, StockNews.com downgraded shares of Telecom Argentina from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th.

Telecom Argentina Trading Down 4.4 %

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 business’s 50-day moving average price is $8.94 and its 200 day moving average price is $7.97. The company has a market cap of $5.73 billion, a P/E ratio of -77.11 and a beta of 0.82.

Institutional Trading of Telecom Argentina

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in Telecom Argentina during the 2nd quarter valued at $334,000. PFG Investments LLC acquired a new stake in Telecom Argentina during the second quarter worth approximately $104,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Telecom Argentina during the second quarter worth approximately $174,000. Stifel Financial Corp acquired a new stake in Telecom Argentina during the 3rd quarter worth approximately $91,000. Finally, XTX Topco Ltd bought a new stake in Telecom Argentina in the 3rd quarter valued at $80,000.

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.