Telecom Argentina (NYSE:TEO) Shares Gap Down – Here’s What Happened

Shares of Telecom Argentina S.A. (NYSE:TEO) gapped down before the market opened on Tuesday . The stock had previously closed at $11.09, but opened at $10.50. Telecom Argentina shares last traded at $10.96, with a volume of 96,281 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on shares of Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th.

Telecom Argentina Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $12.56 and a 200 day moving average price of $10.37. The stock has a market cap of $4.86 billion, a PE ratio of -62.62 and a beta of 0.92.

Institutional Trading of Telecom Argentina

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Telecom Argentina by 113.3% in the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after buying an additional 2,081 shares during the period. Advisors Preferred LLC purchased a new position in shares of Telecom Argentina in the fourth quarter valued at about $75,000. XTX Topco Ltd bought a new position in shares of Telecom Argentina during the third quarter valued at about $80,000. Stifel Financial Corp purchased a new stake in shares of Telecom Argentina during the third quarter worth about $91,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Telecom Argentina in the fourth quarter worth about $106,000.

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.