Short Interest in Telenor ASA (OTCMKTS:TELNY) Drops By 50.5%

Telenor ASA (OTCMKTS:TELNY) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 12,444 shares, a decrease of 50.5% from the May 31st total of 25,138 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 138,988 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Several research firms recently commented on TELNY. Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Pareto Securities lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Barclays downgraded shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Telenor ASA Stock Down 0.6%

Shares of TELNY stock traded down $0.09 during trading hours on Tuesday, reaching $14.39. 9,548 shares of the company’s stock were exchanged, compared to its average volume of 40,353. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The company has a market cap of $19.69 billion, a price-to-earnings ratio of 13.84 and a beta of 0.28. The stock’s 50 day moving average is $16.29 and its 200-day moving average is $16.42. Telenor ASA has a fifty-two week low of $13.79 and a fifty-two week high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Analysts predict that Telenor ASA will post 2.09 earnings per share for the current fiscal year.

About Telenor ASA

Telenor ASA is a Norway-based multinational telecommunications company that provides a broad range of communications and digital services to consumers and businesses. Its core offerings include mobile voice and data services, fixed broadband, television distribution, and related value-added digital services. The company also provides enterprise solutions such as business connectivity, cloud and hosting services, Internet of Things (IoT) connectivity, and wholesale telecommunications services.

In its consumer-facing business, Telenor operates mobile networks, broadband access and content services, and increasingly bundles digital and financial services to enhance customer engagement.