Short Interest in Freenet AG (OTCMKTS:FRTAF) Declines By 40.9%

Freenet AG (OTCMKTS:FRTAF) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 325,292 shares, a drop of 40.9% from the August 15th total of 550,474 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 155 shares, the short-interest ratio is presently 2,098.7 days.

Analysts Set New Price Targets

Separately, UBS Group raised Freenet from a “sell” rating to a “neutral” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Freenet Price Performance

OTCMKTS:FRTAF remained flat at $27.00 during trading hours on Wednesday. The stock has a market capitalization of $3.21 billion, a PE ratio of 10.55 and a beta of -0.01. The business’s 50 day moving average price is $27.00 and its two-hundred day moving average price is $28.83. Freenet has a twelve month low of $27.00 and a twelve month high of $35.41.

About Freenet

Freenet AG is a Germany-based telecommunications and media company that provides mobile communications, internet access and television services. Rather than operating a nationwide mobile network of its own, the company primarily markets services using network capacity from other telecommunications operators under its own brands and through partner brands.

Its mobile communications business includes voice and data plans, smartphones, connected devices and related services for private and business customers.