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

Telenor ASA (OTCMKTS:TELNY) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 29,340 shares, a drop of 46.7% from the April 30th total of 55,020 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 57,701 shares, the days-to-cover ratio is currently 0.5 days.

Telenor ASA Trading Down 1.9%

TELNY stock traded down $0.31 during midday trading on Monday, reaching $16.12. 6,597 shares of the company’s stock traded hands, compared to its average volume of 34,134. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. Telenor ASA has a fifty-two week low of $13.79 and a fifty-two week high of $18.92. The business has a 50-day moving average price of $17.12 and a two-hundred day moving average price of $16.25. The company has a market capitalization of $22.06 billion, a P/E ratio of 15.50 and a beta of 0.28.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research raised Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Pareto Securities downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Telenor ASA Company Profile

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.