Scotiabank Upgrades Telecom Argentina Stet - France Telecom (NYSE:TEO) to Sector Perform

Key Points

• Scotiabank upgraded Telecom Argentina Stet - France Telecom from a "sector underperform" to a "sector perform" rating, signaling increased confidence in the company's future performance.
• As of Monday, shares of Telecom Argentina traded down to $7.67, reflecting a 40% decrease from its 12-month high of $15.53.
• Recent hedge fund activity shows increased interest, with firms such as BNP Paribas Financial Markets increasing their holdings by over 34%, indicating potentially growing institutional confidence.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) was upgraded by equities research analysts at Scotiabank from a "sector underperform" rating to a "sector perform" rating in a report released on Monday,Finviz reports.

Telecom Argentina Stet - France Telecom Price Performance

Shares of NYSE:TEO traded down $0.85 during trading on Monday, reaching $7.67. The company had a trading volume of 205,412 shares, compared to its average volume of 206,540. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. Telecom Argentina Stet - France Telecom has a 12 month low of $7.33 and a 12 month high of $15.53. The company has a fifty day moving average of $9.15 and a two-hundred day moving average of $9.91. The stock has a market capitalization of $3.31 billion, a P/E ratio of -258.95 and a beta of 1.34.

Hedge Funds Weigh In On Telecom Argentina Stet - France Telecom

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Telecom Argentina Stet - France Telecom by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,872 shares of the utilities provider's stock worth $25,270,000 after acquiring an additional 152,837 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Telecom Argentina Stet - France Telecom by 34.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 149,672 shares of the utilities provider's stock worth $1,322,000 after purchasing an additional 38,107 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Telecom Argentina Stet - France Telecom by 321.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 104,726 shares of the utilities provider's stock valued at $925,000 after acquiring an additional 79,893 shares during the last quarter. Jump Financial LLC purchased a new stake in Telecom Argentina Stet - France Telecom in the 2nd quarter valued at about $596,000. Finally, Jane Street Group LLC purchased a new stake in Telecom Argentina Stet - France Telecom during the second quarter worth about $578,000.

Telecom Argentina Stet - France Telecom 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.

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