Loma Negra Compania Industrial Argentina (NYSE:LOMA) Shares Gap Down - Time to Sell?

Key Points

• Loma Negra Compania Industrial Argentina shares gapped down to open at $7.96 after closing at $9.00, currently trading at $8.28 with a trading volume of 372,683 shares.
• Analysts have mixed opinions, with Morgan Stanley upgrading the stock from "equal weight" to "overweight" and raising its price target to $15.00, while Wall Street Zen downgraded it from "buy" to "hold."
• Significant institutional investments include GAMMA Investing LLC increasing its stake by 935.8%, bringing their total to 46,147 shares worth $507,000.

Shares of Loma Negra Compania Industrial Argentina S.A. Sponsored ADR (NYSE:LOMA - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $9.00, but opened at $7.96. Loma Negra Compania Industrial Argentina shares last traded at $8.28, with a volume of 372,683 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LOMA. Morgan Stanley raised Loma Negra Compania Industrial Argentina from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $13.00 to $15.00 in a research report on Tuesday, May 20th. Itau BBA Securities upgraded shares of Loma Negra Compania Industrial Argentina from a "market perform" rating to an "outperform" rating and set a $14.20 price target on the stock in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Loma Negra Compania Industrial Argentina from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Citigroup started coverage on shares of Loma Negra Compania Industrial Argentina in a research report on Wednesday, June 18th. They issued a "buy" rating and a $16.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $14.80.

Loma Negra Compania Industrial Argentina Price Performance

The company's 50-day moving average is $10.75 and its 200-day moving average is $11.13. The firm has a market capitalization of $955.77 million, a price-to-earnings ratio of 14.89 and a beta of 1.06.

Hedge Funds Weigh In On Loma Negra Compania Industrial Argentina

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Loma Negra Compania Industrial Argentina by 935.8% during the first quarter. GAMMA Investing LLC now owns 46,147 shares of the company's stock valued at $507,000 after purchasing an additional 41,692 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Loma Negra Compania Industrial Argentina during the fourth quarter valued at about $500,000. BNP Paribas Financial Markets lifted its position in shares of Loma Negra Compania Industrial Argentina by 57.5% during the 4th quarter. BNP Paribas Financial Markets now owns 19,807 shares of the company's stock valued at $236,000 after buying an additional 7,232 shares in the last quarter. Bank of America Corp DE increased its position in shares of Loma Negra Compania Industrial Argentina by 187.9% during the 4th quarter. Bank of America Corp DE now owns 150,808 shares of the company's stock worth $1,801,000 after purchasing an additional 98,417 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Loma Negra Compania Industrial Argentina during the fourth quarter worth approximately $270,000. Institutional investors own 19.32% of the company's stock.

Loma Negra Compania Industrial Argentina Company Profile

Loma Negra Compañía Industrial Argentina Sociedad Anónima, together with its subsidiaries, manufactures and sells cement and its derivatives in Argentina. The company operates through Cement, Masonry Cement and Lime; Concrete; Railroad; Aggregates; and Others segments. It offers masonry cement, aggregates, ready-mix concrete, concrete, and lime to wholesale distributors, concrete producers, industrial customers, and others for use in the construction.

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