Telecom Argentina (NYSE:TEO) Stock Passes Above 200-Day Moving Average – What’s Next?

Telecom Argentina S.A. (NYSE:TEO)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.33 and traded as high as $11.25. Telecom Argentina shares last traded at $11.10, with a volume of 107,008 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TEO. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their price target on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a research note on Wednesday, November 20th.

Telecom Argentina Stock Performance

The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -65.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The firm has a 50 day moving average price of $12.56 and a 200-day moving average price of $10.37.

Institutional Trading of Telecom Argentina

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Telecom Argentina by 111.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock valued at $29,297,000 after acquiring an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC acquired a new stake in shares of Telecom Argentina in the fourth quarter valued at $1,031,000. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Telecom Argentina in the fourth quarter valued at $853,000. Freedom Investment Management Inc. acquired a new stake in shares of Telecom Argentina in the fourth quarter valued at $577,000. Finally, Mariner LLC raised its stake in shares of Telecom Argentina by 8.1% in the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider’s stock valued at $413,000 after acquiring an additional 2,467 shares in the last quarter.

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.