Telecom Argentina (NYSE:TEO) Shares Gap Up – Here’s Why

Telecom Argentina S.A. (NYSE:TEO) gapped up prior to trading on Monday . The stock had previously closed at $11.59, but opened at $12.15. Telecom Argentina shares last traded at $11.64, with a volume of 144,016 shares changing hands.

Wall Street Analyst Weigh In

TEO has been the topic of several research reports. The Goldman Sachs Group increased 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 upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Telecom Argentina Stock Up 0.1 %

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 cap of $5.00 billion, a PE ratio of -64.32 and a beta of 0.92. The firm’s 50-day moving average price is $12.45 and its two-hundred day moving average price is $10.49.

Hedge Funds Weigh In On Telecom Argentina

Institutional investors have recently added to or reduced their stakes in the stock. Centiva Capital LP acquired a new position in shares of Telecom Argentina in the third quarter valued at approximately $123,000. Stifel Financial Corp purchased a new position in Telecom Argentina in the third quarter worth $91,000. XTX Topco Ltd acquired a new stake in shares of Telecom Argentina in the third quarter valued at about $80,000. GAMMA Investing LLC boosted its stake in shares of Telecom Argentina by 113.3% during the 4th 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 in the last quarter. Finally, JGP Global Gestao de Recursos Ltda. acquired a new stake in Telecom Argentina in the fourth quarter valued at $853,000.

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.