Telecom Argentina Stet - France Telecom (NYSE:TEO) Trading Down 7.8% - Time to Sell?

Key Points

• Telecom Argentina Stet - France Telecom's stock price fell by 7.8% to $8.30, with a significant drop in trading volume.
• Analysts have a consensus rating of "Reduce" on the stock, with Scotiabank reiterating an "underperform" rating.
• Hedge funds have been actively trading the stock, with notable increases in stakes from several firms, including MIRAE ASSET GLOBAL ETFS HOLDINGS boosting its stake by 111%.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report)'s share price was down 7.8% during mid-day trading on Tuesday . The company traded as low as $8.43 and last traded at $8.30. Approximately 185,305 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 202,928 shares. The stock had previously closed at $9.00.

Wall Street Analyst Weigh In

Separately, Scotiabank reissued an "underperform" rating on shares of Telecom Argentina Stet - France Telecom in a report on Thursday, May 15th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $10.23.

Telecom Argentina Stet - France Telecom Trading Up 1.3%

The business's fifty day moving average is $9.15 and its 200-day moving average is $9.93. 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 firm has a market cap of $3.65 billion, a P/E ratio of -282.57 and a beta of 1.34.

Institutional Inflows and Outflows

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

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.