Freenet (OTCMKTS:FRTAF) Shares Gap Up – Here’s Why

Freenet AG (OTCMKTS:FRTAF) gapped up before the market opened on Monday . The stock had previously closed at $30.78, but opened at $34.78. Freenet shares last traded at $34.78, with a volume of 500 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on FRTAF. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freenet in a research report on Wednesday, January 21st. UBS Group cut Freenet from a “buy” rating to a “sell” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Freenet Stock Performance

The firm has a fifty day moving average of $34.00 and a 200-day moving average of $33.38. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.14 billion, a P/E ratio of 18.11 and a beta of -0.11.

Freenet Company Profile

Freenet AG is a Germany-based telecommunications and digital services provider offering a broad portfolio of consumer and business solutions. The company specializes in distributing mobile communications services, including contract and prepaid offerings from major network operators, as well as providing broadband internet access, cable and IPTV television, and related hardware such as routers and set-top boxes. Through its digital lifestyle segment, Freenet AG also delivers value-added services and digital content, ranging from music and video streaming to online gaming and e-books.

In its mobile communications division, Freenet AG acts as a sales and service partner for leading German network operators, managing customer acquisition, billing, and technical support.