Telecom Argentina (NYSE:TEO) Share Price Crosses Above Two Hundred Day Moving Average of $7.52

Telecom Argentina S.A. (NYSE:TEO)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.52 and traded as high as $7.55. Telecom Argentina shares last traded at $7.34, with a volume of 75,245 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TEO shares. Scotiabank raised shares of Telecom Argentina from a “sector underperform” rating to a “sector perform” rating in a research note on Tuesday, August 6th. StockNews.com raised Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, June 5th.

Telecom Argentina Price Performance

The stock has a market capitalization of $3.16 billion, a P/E ratio of 183.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.50. The business has a fifty day simple moving average of $6.89 and a 200-day simple moving average of $7.52.

Hedge Funds Weigh In On Telecom Argentina

Institutional investors have recently made changes to their positions in the stock. Oaktree Capital Management LP raised its holdings in Telecom Argentina by 0.4% during the fourth quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock worth $17,547,000 after buying an additional 10,000 shares during the last quarter. RWC Asset Management LLP bought a new position in Telecom Argentina in the 4th quarter valued at about $2,657,000. RWC Asset Advisors US LLC acquired a new position in Telecom Argentina during the 4th quarter valued at about $2,212,000. Cubist Systematic Strategies LLC bought a new stake in Telecom Argentina during the 2nd quarter worth approximately $334,000. Finally, Jump Financial LLC increased its holdings in Telecom Argentina by 209.1% during the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 28,964 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.