Freenet (OTCMKTS:FRTAF) Cut to Hold at DZ Bank

Key Points

• DZ Bank downgraded Freenet from a "strong-buy" to a "hold" in a note to investors on Friday.
• Analyst sentiment is mixed-to-negative overall, with one Buy, three Hold and two Sell ratings (including a UBS downgrade to Sell) and an average MarketBeat rating of "Reduce".
• Freenet shares opened at $32.04 (1‑year range $30.78–$35.41) and the company trades at a PE of 16.69 with a market cap of $3.81 billion, while showing low liquidity metrics (current ratio 0.68, quick ratio 0.64).

Freenet (OTCMKTS:FRTAF - Get Free Report) was downgraded by investment analysts at DZ Bank from a "strong-buy" rating to a "hold" rating in a note issued to investors on Friday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Freenet in a report on Wednesday, January 21st. UBS Group downgraded Freenet from a "buy" rating to a "sell" rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce".

Freenet Price Performance

FRTAF stock opened at $32.04 on Friday. Freenet has a 1 year low of $30.78 and a 1 year high of $35.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.68 and a quick ratio of 0.64. The firm has a market capitalization of $3.81 billion, a PE ratio of 16.69 and a beta of -0.11. The business has a 50 day simple moving average of $34.36 and a 200-day simple moving average of $33.34.

Freenet Company Profile

Freenet AG is a Germany-based telecommunications and digital services provider offering a broad portfolio of consumer and business solutions. The company specializes in distributing mobile communications services, including contract and prepaid offerings from major network operators, as well as providing broadband internet access, cable and IPTV television, and related hardware such as routers and set-top boxes. Through its digital lifestyle segment, Freenet AG also delivers value-added services and digital content, ranging from music and video streaming to online gaming and e-books.

In its mobile communications division, Freenet AG acts as a sales and service partner for leading German network operators, managing customer acquisition, billing, and technical support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.