Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO) Sees Significant Decline in Short Interest

Key Points

• Telecom Argentina Stet - France Telecom S.A. experienced a 35.9% decline in short interest in September, dropping from 603,900 shares to 387,400 shares.
• Analyst ratings have varied, with Zacks downgrading the stock to a "strong sell", while Scotiabank upgraded it to "sector perform" with a new price objective of $8.20.
• The company's stock trades at around $7.24, with a market capitalization of $3.12 billion and an average target price of $10.23.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 387,400 shares, a decline of 35.9% from the September 15th total of 603,900 shares. Based on an average daily volume of 252,200 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 252,200 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

Several brokerages have issued reports on TEO. Zacks Research downgraded Telecom Argentina Stet - France Telecom from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Telecom Argentina Stet - France Telecom in a research report on Tuesday, October 14th. Finally, Scotiabank upgraded Telecom Argentina Stet - France Telecom from a "sector underperform" rating to a "sector perform" rating and lifted their price objective for the company from $4.50 to $8.20 in a research report on Monday, September 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $10.23.

Telecom Argentina Stet - France Telecom Trading Down 0.3%

Shares of TEO stock traded down $0.02 on Wednesday, reaching $7.24. 205,613 shares of the stock were exchanged, compared to its average volume of 304,857. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.43 and a quick ratio of 0.39. Telecom Argentina Stet - France Telecom has a one year low of $6.43 and a one year high of $15.53. The stock has a 50 day moving average price of $7.99 and a 200 day moving average price of $9.12. The stock has a market cap of $3.12 billion, a PE ratio of -241.29 and a beta of 1.30.

Institutional Investors Weigh In On Telecom Argentina Stet - France Telecom

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Telecom Argentina Stet - France Telecom by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,872 shares of the utilities provider's stock worth $25,270,000 after purchasing an additional 152,837 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Telecom Argentina Stet - France Telecom during the first quarter worth $271,000. Hsbc Holdings PLC acquired a new stake in shares of Telecom Argentina Stet - France Telecom during the first quarter worth $119,000. Invesco Ltd. grew its stake in shares of Telecom Argentina Stet - France Telecom by 19.8% during the first quarter. Invesco Ltd. now owns 56,029 shares of the utilities provider's stock worth $571,000 after purchasing an additional 9,243 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Telecom Argentina Stet - France Telecom during the first quarter worth $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.

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