Telecom Argentina (NYSE:TEO) Upgraded at StockNews.com

Telecom Argentina (NYSE:TEO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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

Telecom Argentina Stock Performance

TEO opened at $13.44 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of -74.67 and a beta of 0.82. The company has a fifty day moving average of $9.05 and a 200 day moving average of $8.00. Telecom Argentina has a fifty-two week low of $5.52 and a fifty-two week high of $14.13.

Hedge Funds Weigh In On Telecom Argentina

Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in shares of Telecom Argentina during the 2nd quarter valued at about $334,000. B. Riley Wealth Advisors Inc. purchased a new stake in Telecom Argentina during the second quarter valued at approximately $174,000. Centiva Capital LP purchased a new stake in Telecom Argentina during the third quarter valued at approximately $123,000. PFG Investments LLC bought a new stake in shares of Telecom Argentina in the 2nd quarter valued at approximately $104,000. Finally, Stifel Financial Corp purchased a new position in shares of Telecom Argentina in the 3rd 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.