Telecom Argentina (NYSE:TEO) Reaches New 1-Year High at $7.44

Telecom Argentina S.A. (NYSE:TEO)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.44 and last traded at $7.22, with a volume of 240526 shares changing hands. The stock had previously closed at $6.53.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Telecom Argentina from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th.

Telecom Argentina Trading Up 9.3 %

The business’s 50-day simple moving average is $5.28 and its 200-day simple moving average is $5.54. The company has a market cap of $3.08 billion, a PE ratio of 145.60 and a beta of 0.62. The company has a current ratio of 0.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TEO. Barclays PLC bought a new stake in Telecom Argentina during the fourth quarter worth approximately $25,000. Bank of America Corp DE raised its holdings in Telecom Argentina by 73.8% in the 1st quarter. Bank of America Corp DE now owns 17,530 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 7,445 shares during the period. Invesco Ltd. lifted its position in Telecom Argentina by 13.4% during the 3rd quarter. Invesco Ltd. now owns 68,606 shares of the utilities provider’s stock worth $329,000 after acquiring an additional 8,096 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Telecom Argentina during the third quarter valued at about $37,000. Finally, Susquehanna International Group LLP bought a new stake in Telecom Argentina during the 1st quarter valued at approximately $62,000.

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.