Telenor ASA (OTCMKTS:TELNY) Sees Large Decrease in Short Interest

Telenor ASA (OTCMKTS:TELNY) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 4,332 shares, a decline of 94.0% from the July 30th total of 72,806 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 157,373 shares, the days-to-cover ratio is presently 0.0 days.

Telenor ASA Stock Performance

Shares of OTCMKTS TELNY opened at $14.61 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.32 and a quick ratio of 1.30. The stock’s fifty day moving average price is $14.30 and its two-hundred day moving average price is $16.23. Telenor ASA has a one year low of $12.97 and a one year high of $18.92. The firm has a market cap of $19.99 billion, a price-to-earnings ratio of 14.91 and a beta of 0.31.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TELNY. Zacks Research downgraded Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Barclays downgraded shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Telenor ASA presently has a consensus rating of “Hold”.

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.