Telecom Argentina Stet - France Telecom (NYSE:TEO) Reaches New 1-Year Low - Should You Sell?

Key Points

• Telecom Argentina Stet - France Telecom shares reached a new 52-week low at $7.14 during trading, significantly down from its previous close of $8.52.
• Scotiabank upgraded the company from "sector underperform" to "sector perform," raising the price target from $4.50 to $8.20, indicating a more optimistic outlook.
• Despite recent hedge fund activity increasing positions substantially, the stock currently holds an average rating of "Hold" with a consensus target price of $10.23.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $7.14 and last traded at $7.16, with a volume of 589862 shares. The stock had previously closed at $8.52.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised shares of Telecom Argentina Stet - France Telecom from a "sector underperform" rating to a "sector perform" rating and boosted their price objective for the company from $4.50 to $8.20 in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.23.

Telecom Argentina Stet - France Telecom Stock Performance

The firm has a market capitalization of $3.05 billion, a PE ratio of -235.92 and a beta of 1.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.43. The company's fifty day moving average price is $8.99 and its two-hundred day moving average price is $9.76.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Telecom Argentina Stet - France Telecom by 21.3% during the 2nd quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider's stock worth $237,000 after acquiring an additional 4,714 shares during the period. Invesco Ltd. lifted its holdings in shares of Telecom Argentina Stet - France Telecom by 19.8% during the 1st quarter. Invesco Ltd. now owns 56,029 shares of the utilities provider's stock worth $571,000 after acquiring an additional 9,243 shares during the period. Hsbc Holdings PLC purchased a new position in Telecom Argentina Stet - France Telecom in the first quarter valued at approximately $119,000. Engineers Gate Manager LP purchased a new position in Telecom Argentina Stet - France Telecom in the second quarter valued at approximately $110,000. Finally, Cetera Investment Advisers purchased a new position in Telecom Argentina Stet - France Telecom in the first quarter valued at approximately $271,000.

About Telecom Argentina Stet - France Telecom

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.