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.

Shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) gapped down before the market opened 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 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. One 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 company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $10.23.

Telecom Argentina Stet - France Telecom Stock Performance

The stock's 50-day moving average is $9.15 and its 200 day moving average is $9.91. 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 stock has a market cap of $3.15 billion, a price-to-earnings ratio of -242.92 and a beta of 1.34.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Telecom Argentina Stet - France Telecom by 87.0% during the fourth quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock valued at $260,000 after acquiring an additional 9,621 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Telecom Argentina Stet - France Telecom by 111.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider's stock valued at $29,297,000 after acquiring an additional 1,224,369 shares during the period. GAMMA Investing LLC boosted its position in shares of Telecom Argentina Stet - France Telecom by 900.3% during the 1st quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider's stock worth $3,845,000 after acquiring an additional 35,264 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Telecom Argentina Stet - France Telecom during the first quarter valued at $271,000. Finally, Invesco Ltd. increased its stake in Telecom Argentina Stet - France Telecom by 19.8% in the first quarter. Invesco Ltd. now owns 56,029 shares of the utilities provider's stock valued at $571,000 after purchasing an additional 9,243 shares in the last quarter.

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.

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