Telecom Argentina (NYSE:TEO) Shares Gap Up – Time to 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 changing hands.

Analyst Ratings Changes

A number of equities analysts recently commented on TEO shares. The Goldman Sachs Group raised their price target on shares of Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a research report on Wednesday, November 20th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Scotiabank cut Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their price target for the company from $5.70 to $6.10 in a research note on Friday, September 20th.

Telecom Argentina Stock Up 1.5 %

The firm’s 50-day moving average price is $11.71 and its 200 day moving average price is $8.81. 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 capitalization of $5.30 billion, a price-to-earnings ratio of -68.39 and a beta of 0.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TEO. XTX Topco Ltd bought a new stake in shares of Telecom Argentina during the 3rd quarter valued at approximately $80,000. Stifel Financial Corp acquired a new position in shares of Telecom Argentina during the third quarter worth $91,000. PFG Investments LLC bought a new position in shares of Telecom Argentina in the 2nd quarter valued at $104,000. Centiva Capital LP acquired a new stake in shares of Telecom Argentina during the 3rd quarter valued at $123,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Telecom Argentina during the 2nd quarter worth $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.