Short Interest in Telenor ASA (OTCMKTS:TELNY) Declines By 94.0%

Key Points

• Short interest in Telenor ASA plunged 94% to 4,332 shares as of August 14, down from 72,806 shares on July 30. Short interest represented approximately 0.0% of outstanding shares.
• Telenor shares rose 1.7% to $14.61 during mid-day trading, with the company valued at approximately $19.99 billion. The stock remains below its 52-week high of $18.92.
• The company missed quarterly expectations, reporting $0.21 in earnings per share versus a $0.23 estimate and $1.88 billion in revenue versus $1.91 billion expected. Analyst sentiment is mixed, with a consensus rating of Hold.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 4,332 shares, a decrease of 94.0% from the July 30th total of 72,806 shares. Based on an average daily volume of 157,373 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's shares are sold short.

Telenor ASA Trading Up 1.7%

Shares of OTCMKTS TELNY traded up $0.25 during mid-day trading on Tuesday, reaching $14.61. 17,138 shares of the company's stock were exchanged, compared to its average volume of 53,848. The company's 50-day moving average is $14.33 and its 200-day moving average is $16.24. 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 firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 14.91 and a beta of 0.31. Telenor ASA has a 52-week low of $12.97 and a 52-week high of $18.92.

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

Wall Street Analysts Forecast Growth

TELNY has been the topic of a number of analyst reports. Zacks Research downgraded shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Barclays cut shares of Telenor ASA from an "equal weight" rating to an "underweight" rating in a research note on Tuesday, June 23rd. Citigroup downgraded shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 7th. Finally, Pareto Securities raised shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

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.

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