Telenor ASA (OTCMKTS:TELNY) Short Interest Up 808.1% in August

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

Wall Street Analyst Weigh In

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

Telenor ASA Trading Down 1.4%

Shares of Telenor ASA stock traded down $0.20 during midday trading on Thursday, reaching $14.52. 60,797 shares of the company’s stock traded hands, compared to its average volume of 53,247. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.32. The company has a market cap of $19.86 billion, a PE ratio of 14.81 and a beta of 0.31. The stock has a 50 day moving average of $14.27 and a 200-day moving average of $15.93. Telenor ASA has a 12 month low of $12.97 and a 12 month high of $18.92.

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