Short Interest in Telenor ASA (OTCMKTS:TELNY) Grows By 808.1%

Telenor ASA (OTCMKTS:TELNY) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 39,339 shares, an increase of 808.1% from the August 15th total of 4,332 shares. Based on an average daily trading volume, of 99,877 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

TELNY has been the topic of a number of recent research reports. Pareto Securities raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Barclays cut shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th. Finally, Zacks Research raised shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

Telenor ASA Stock Up 0.3%

TELNY stock opened at $14.49 on Friday. Telenor ASA has a 1-year low of $12.97 and a 1-year high of $18.92. The business’s 50 day simple moving average is $14.27 and its 200 day simple moving average is $15.90. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $19.83 billion, a PE ratio of 14.79 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a net margin of 17.19% and a return on equity of 15.27%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, research analysts anticipate that Telenor ASA will post 0.93 EPS for the current year.

Telenor ASA Company Profile

Telenor ASA is a Norwegian telecommunications company headquartered in Fornebu, Norway. It provides mobile communications, fixed-line and wireless broadband, television, and related digital services to consumers, businesses, and public-sector customers.

The company operates telecommunications businesses primarily across the Nordic region and Asia. Its services include mobile voice and data, 5G connectivity, broadband access, digital entertainment, communications infrastructure, and Internet of Things solutions.