Telecom Argentina (NYSE:TEO) Upgraded by StockNews.com to “Hold” Rating

Telecom Argentina (NYSE:TEO) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group assumed coverage on Telecom Argentina in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. Scotiabank downgraded Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their price objective for the company from $5.70 to $6.10 in a research report on Friday, September 20th.

Telecom Argentina Stock Performance

Shares of NYSE:TEO opened at $13.44 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. Telecom Argentina has a 12 month low of $5.52 and a 12 month high of $14.13. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of -74.67 and a beta of 0.82. The firm’s 50-day moving average is $9.05 and its 200 day moving average is $8.00.

Hedge Funds Weigh In On Telecom Argentina

Institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in Telecom Argentina in the second quarter worth approximately $334,000. PFG Investments LLC purchased a new stake in shares of Telecom Argentina in the 2nd quarter worth $104,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Telecom Argentina during the 2nd quarter worth $174,000. Stifel Financial Corp purchased a new position in shares of Telecom Argentina during the third quarter valued at $91,000. Finally, XTX Topco Ltd purchased a new position in shares of Telecom Argentina during the third quarter valued at $80,000.

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.