Telenor ASA (OTCMKTS:TELNY) Short Interest Update

Telenor ASA (OTCMKTS:TELNY) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 87,834 shares, a growth of 605.8% from the June 15th total of 12,444 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 150,411 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TELNY. Citigroup downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Pareto Securities downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Barclays cut shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Telenor ASA has an average rating of “Reduce”.

Telenor ASA Stock Down 0.7%

OTCMKTS:TELNY traded down $0.11 during trading hours on Friday, reaching $14.80. The company’s stock had a trading volume of 55,211 shares, compared to its average volume of 69,185. The company has a market capitalization of $20.25 billion, a P/E ratio of 14.23 and a beta of 0.31. Telenor ASA has a 12 month low of $13.79 and a 12 month high of $18.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The stock has a 50 day moving average price of $15.83 and a two-hundred day moving average price of $16.43.

Telenor ASA (OTCMKTS:TELNY) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%. Equities analysts predict that Telenor ASA will post 0.93 EPS 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.