Telecom Argentina Stet - France Telecom (NYSE:TEO) Sets New 1-Year Low - Here's Why

Key Points

• Telecom Argentina Stet - France Telecom has reached a new 52-week low with its stock price falling to $6.89, down from a previous close of $7.18, with a trading volume of 45,562 shares.
• Analysts have upgraded the stock's rating and increased the price target from $4.50 to $8.20, while the consensus price target remains at $10.23.
• Hedge funds are actively buying shares, with MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increasing its stake by 6.6% and GAMMA Investing LLC boosting its holdings by 900.3% in the first quarter.

Shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.95 and last traded at $6.89, with a volume of 45562 shares traded. The stock had previously closed at $7.18.

Analysts Set New Price Targets

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

Telecom Argentina Stet - France Telecom Trading Up 10.6%

The company has a 50-day moving average of $8.82 and a 200 day moving average of $9.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.43 and a quick ratio of 0.39. The company has a market cap of $3.21 billion, a PE ratio of -248.42 and a beta of 1.34.

Institutional Trading of Telecom Argentina Stet - France Telecom

Several institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in Telecom Argentina Stet - France Telecom in the 2nd quarter valued at about $110,000. BNP Paribas Financial Markets boosted its holdings in shares of Telecom Argentina Stet - France Telecom by 34.2% in the second quarter. BNP Paribas Financial Markets now owns 149,672 shares of the utilities provider's stock valued at $1,322,000 after purchasing an additional 38,107 shares during the period. Bank of America Corp DE grew its stake in Telecom Argentina Stet - France Telecom by 21.3% in the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider's stock worth $237,000 after purchasing an additional 4,714 shares in the last quarter. Jane Street Group LLC bought a new position in Telecom Argentina Stet - France Telecom in the second quarter worth approximately $578,000. Finally, Jump Financial LLC purchased a new position in Telecom Argentina Stet - France Telecom during the 2nd quarter worth $596,000.

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.