Telecom Argentina (NYSE:TEO) Stock Price Up 7.2% – Still a Buy?

Telecom Argentina S.A. (NYSE:TEO)’s share price was up 7.2% during mid-day trading on Thursday . The company traded as high as $13.50 and last traded at $13.50. Approximately 84,728 shares changed hands during trading, a decline of 58% from the average daily volume of 200,579 shares. The stock had previously closed at $12.59.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group raised their target price 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. Scotiabank cut Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their price objective for the company from $5.70 to $6.10 in a research report on Friday, September 20th. Finally, StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Telecom Argentina Stock Performance

The company has a market capitalization of $5.92 billion, a P/E ratio of -76.33 and a beta of 0.92. The company’s 50 day moving average is $12.17 and its 200-day moving average is $9.01. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Telecom Argentina

Several large investors have recently made changes to their positions in the business. PFG Investments LLC bought a new position in shares of Telecom Argentina during the second quarter valued at $104,000. Cubist Systematic Strategies LLC bought a new stake in Telecom Argentina during the 2nd quarter valued at about $334,000. B. Riley Wealth Advisors Inc. purchased a new position in Telecom Argentina in the second quarter worth about $174,000. Centiva Capital LP bought a new position in shares of Telecom Argentina in the third quarter worth approximately $123,000. Finally, Stifel Financial Corp bought a new position in shares of Telecom Argentina in the third quarter worth approximately $91,000.

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.