Tele2 (OTCMKTS:TLTZY) Shares Shorted: Short Interest Down 87.6% in September

Tele2 (OTCMKTS:TLTZY) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 14,400 shares, a drop of 87.6% from the September 15th total of 115,996 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 173,551 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Several brokerages have issued reports on TLTZY. Sanford C. Bernstein lowered shares of Tele2 to a “market perform” rating in a research report on Thursday, September 24th. BNP Paribas Exane lowered shares of Tele2 from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 9th. Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Zacks Research cut shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Tele2 Stock Performance

Shares of TLTZY opened at $7.68 on Monday. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 9.85 and a beta of 0.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.64 and a current ratio of 0.70. Tele2 has a fifty-two week low of $7.39 and a fifty-two week high of $11.61. The firm has a 50 day moving average price of $8.55 and a 200-day moving average price of $9.17.

Tele2 (OTCMKTS:TLTZY) last posted its quarterly earnings results on Thursday, July 16th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tele2 had a return on equity of 43.42% and a net margin of 33.96%. The business had revenue of $766.77 million during the quarter, compared to the consensus estimate of $750.18 million. As a group, equities research analysts forecast that Tele2 will post 0.78 earnings per share for the current year.

Tele2 Company Profile

Tele2 AB is a Swedish telecommunications company that provides mobile and fixed communications services to consumers, businesses and public-sector customers. Its offerings include mobile voice and data services, broadband connectivity, fixed-line communications, digital television and related communications solutions.

The company also provides internet-of-things (IoT) connectivity and other business services designed to help organizations connect devices, manage communications and support digital operations.