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

Telecom Argentina S.A. (NYSE:TEO) gapped up before the market opened on Monday . The stock had previously closed at $11.59, but opened at $12.15. Telecom Argentina shares last traded at $11.64, with a volume of 144,016 shares trading hands.

Analyst Ratings Changes

A number of analysts have commented on TEO shares. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded Telecom Argentina from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.00 to $13.00 in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their price target on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research report on Wednesday, November 20th.

Telecom Argentina Stock Performance

The company’s 50-day moving average price is $12.39 and its two-hundred day moving average price is $10.56. The company has a market cap of $5.17 billion, a P/E ratio of -66.30 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

Several hedge funds have recently added to or reduced their stakes in TEO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Telecom Argentina by 111.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock worth $29,297,000 after acquiring an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC purchased a new stake in shares of Telecom Argentina during the fourth quarter valued at $1,031,000. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Telecom Argentina in the 4th quarter valued at $853,000. Freedom Investment Management Inc. acquired a new position in shares of Telecom Argentina in the 4th quarter valued at $577,000. Finally, Mariner LLC increased its stake in Telecom Argentina by 8.1% in the 4th quarter. Mariner LLC now owns 32,792 shares of the utilities provider’s stock worth $413,000 after purchasing an additional 2,467 shares in the last quarter.

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.