Telecom Argentina Stet - France Telecom (NYSE:TEO) Shares Break Below 200-Day Moving Average - What's Next?

Key Points

• TEO shares fell below their 200-day moving average of $12.59, trading as low as $11.63 before ending at $11.9510. The stock was down 7.4% and has a 50-day moving average of $12.98.
• Analyst sentiment is mixed: four analysts rate the stock Buy, two Hold, and one Sell, resulting in a consensus Hold rating and an average price target of $15.93.
• Institutional interest has increased, with several funds initiating or expanding positions, while an insider sold 188,500 shares; insiders own approximately 1% of the company.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $12.59 and traded as low as $11.63. Telecom Argentina Stet - France Telecom shares last traded at $11.9510, with a volume of 350,349 shares.

Wall Street Analyst Weigh In

TEO has been the topic of a number of research analyst reports. Santander initiated coverage on shares of Telecom Argentina Stet - France Telecom in a research report on Friday, October 16th. They set an "outperform" rating on the stock. UBS Group dropped their price target on shares of Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Zacks Research lowered Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Wall Street Zen downgraded Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a research note on Sunday, September 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Telecom Argentina Stet - France Telecom from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.93.

Telecom Argentina Stet - France Telecom Trading Down 7.4%

The stock has a market cap of $5.15 billion, a P/E ratio of 9.72 and a beta of 1.35. The stock's fifty day moving average is $12.98 and its 200 day moving average is $12.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.58.

Insider Buying and Selling

In other Telecom Argentina Stet - France Telecom news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $2.78, for a total transaction of $524,030.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of Telecom Argentina Stet - France Telecom

A number of hedge funds and other institutional investors have recently made changes to their positions in TEO. Artemis Investment Management LLP acquired a new stake in shares of Telecom Argentina Stet - France Telecom during the 3rd quarter worth approximately $11,422,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Telecom Argentina Stet - France Telecom in the first quarter valued at about $8,565,000. ABS Direct Equity Fund LLC purchased a new position in shares of Telecom Argentina Stet - France Telecom in the second quarter valued at approximately $3,033,000. Absolute Gestao de Investimentos Ltda. grew its stake in Telecom Argentina Stet - France Telecom by 156.7% during the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider's stock valued at $2,898,000 after acquiring an additional 136,091 shares in the last quarter. Finally, Engineers Gate Manager LP increased its holdings in shares of Telecom Argentina Stet - France Telecom by 105.6% during the 2nd quarter. Engineers Gate Manager LP now owns 86,936 shares of the utilities provider's stock worth $1,130,000 after buying an additional 44,647 shares during the last quarter.

About Telecom Argentina Stet - France Telecom

Telecom Argentina SA is a telecommunications and digital-services company serving residential, business and government customers primarily in Argentina. Its offerings include mobile voice and data services, fixed-line telephony, broadband internet, data transmission and other connectivity solutions.

The company also provides pay television and digital entertainment through its Flow platform, along with information and communications technology services for businesses, including cloud, cybersecurity, data-center and managed connectivity solutions.

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