Tele2 (OTCMKTS:TLTZY) Sees Significant Growth in Short Interest

Key Points

• Tele2’s short interest surged 251.2% to 115,996 shares as of September 15, up from 33,032 shares at the end of August. Despite the increase, only approximately 0.0% of shares are short, with a short-interest ratio of 0.8 days.
• Analyst sentiment is mixed but leans neutral: recent downgrades from Bernstein and BNP Paribas Exane contributed to a consensus “Hold” rating, with five analysts rating the stock a hold.
• Tele2 reported quarterly EPS of $0.09, missing estimates by $0.01, while revenue of $766.77 million exceeded expectations. The stock opened at $8.37, well below its 52-week high of $11.61.

Tele2 (OTCMKTS:TLTZY - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 115,996 shares, an increase of 251.2% from the August 31st total of 33,032 shares. Based on an average daily volume of 148,320 shares, the short-interest ratio is presently 0.8 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TLTZY shares. Sanford C. Bernstein lowered Tele2 to a "market perform" rating in a research report on Thursday. BNP Paribas Exane downgraded Tele2 from an "outperform" rating to a "neutral" rating in a research report on Wednesday, September 9th. Kepler Capital Markets raised Tele2 from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Finally, Zacks Research cut shares of Tele2 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Tele2 has a consensus rating of "Hold".

Tele2 Price Performance

TLTZY opened at $8.37 on Friday. The stock's 50 day simple moving average is $8.63 and its 200 day simple moving average is $9.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.70 and a quick ratio of 0.64. Tele2 has a 1 year low of $7.39 and a 1 year high of $11.61. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of 10.73 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $766.77 million during the quarter, compared to the consensus estimate of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 43.42%. As a group, analysts predict that Tele2 will post 0.78 earnings per share for the current year.

About Tele2

Tele2 AB is a Sweden-based telecommunications company that provides connectivity and digital communications services to consumers, businesses and public-sector organizations. Its offerings include mobile voice and data services, fixed broadband, telephony, television and related digital solutions.

The company also provides business connectivity, communications and Internet of Things services, helping organizations connect employees, locations, devices and industrial applications. Tele2 serves customers primarily in Sweden and the Baltic region, including Lithuania, Latvia and Estonia.

Founded in 1993, Tele2 established itself as a challenger in the Nordic telecommunications market and has expanded and reshaped its operations through acquisitions, disposals and partnerships.

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