Telecom Argentina (NYSE:TEO) Sees Large Volume Increase – Here’s Why

Telecom Argentina S.A. (NYSE:TEO) saw an uptick in trading volume on Tuesday . 165,174 shares traded hands during mid-day trading, a decline of 31% from the previous session’s volume of 238,248 shares.The stock last traded at $12.09 and had previously closed at $12.10.

Analyst Upgrades and Downgrades

TEO has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research note on Wednesday, November 20th. StockNews.com raised Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $13.00 in a report on Tuesday.

Telecom Argentina Trading Up 0.8 %

The business has a 50 day moving average price of $12.42 and a 200-day moving average price of $10.53. The firm has a market capitalization of $5.26 billion, a PE ratio of -68.05 and a beta of 0.92. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TEO. GAMMA Investing LLC raised its position in shares of Telecom Argentina by 113.3% in the 4th 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 Telecom Argentina in the fourth quarter valued at approximately $75,000. Atlas Capital Advisors Inc. purchased a new stake in Telecom Argentina during the fourth quarter worth approximately $106,000. OLD Mission Capital LLC acquired a new stake in shares of Telecom Argentina in the fourth quarter worth $133,000. Finally, XTX Topco Ltd purchased a new position in shares of 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.