Telecom Argentina Stet - France Telecom (NYSE:TEO) Shares Gap Down - Time to Sell?

Key Points

• Telecom Argentina Stet - France Telecom shares fell sharply from $8.52 to $7.65 at market opening, with a last recorded price of $7.80.
• Scotiabank upgraded the company's stock rating from "sector underperform" to "sector perform" and raised the target price from $4.50 to $8.20.
• Institutional investors, such as Bank of America and MIRAE ASSET GLOBAL ETFS, significantly increased their holdings in the company during the fourth quarter, suggesting positive sentiment among large investors.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $8.52, but opened at $7.65. Telecom Argentina Stet - France Telecom shares last traded at $7.80, with a volume of 167,159 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank upgraded shares of Telecom Argentina Stet - France Telecom from a "sector underperform" rating to a "sector perform" rating and upped their price objective for the company from $4.50 to $8.20 in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.23.

Telecom Argentina Stet - France Telecom Trading Down 4.6%

The company's 50 day moving average price is $8.99 and its 200 day moving average price is $9.78. The company has a market cap of $3.05 billion, a price-to-earnings 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in Telecom Argentina Stet - France Telecom in the 1st quarter valued at $119,000. Engineers Gate Manager LP acquired a new position in Telecom Argentina Stet - France Telecom in the 2nd quarter valued at $110,000. Bank of America Corp DE grew its stake in Telecom Argentina Stet - France Telecom by 87.0% in the 4th quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock valued at $260,000 after buying an additional 9,621 shares during the last quarter. Cetera Investment Advisers acquired a new position in Telecom Argentina Stet - France Telecom in the 1st quarter valued at $271,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina Stet - France Telecom in the 1st quarter valued at $329,000.

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.