Telecom Argentina Stet - France Telecom (NYSE:TEO) Stock Price Down 7.8% - Here's What Happened

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) shares were 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 changed hands during trading, a decline of 9% from the average daily volume of 202,928 shares. The stock had previously closed at $9.00.

Analyst Upgrades and Downgrades

Separately, Scotiabank reiterated an "underperform" rating on shares of Telecom Argentina Stet - France Telecom in a research note on Thursday, May 15th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $10.23.

Telecom Argentina Stet - France Telecom Stock Performance

The company has a market cap of $3.65 billion, a P/E ratio of -282.57 and a beta of 1.34. The company's 50-day moving average is $9.15 and its two-hundred day moving average is $9.93. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.48.

Institutional Trading of Telecom Argentina Stet - France Telecom

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of 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 valued at $260,000 after buying an additional 9,621 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Telecom Argentina Stet - France Telecom by 111.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider's stock worth $29,297,000 after purchasing an additional 1,224,369 shares during the period. GAMMA Investing LLC boosted its position in Telecom Argentina Stet - France Telecom by 900.3% during the first quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider's stock worth $3,845,000 after purchasing an additional 35,264 shares during the period. Cetera Investment Advisers purchased a new position in shares of Telecom Argentina Stet - France Telecom in the first quarter worth about $271,000. Finally, Invesco Ltd. raised its position in shares of 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 during the period.

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.