Tele2 (OTCMKTS:TLTZY) Stock Short Interest Falls 87.6%

Key Points

• Tele2’s short interest plunged 87.6% to 14,400 shares as of September 30, down from 115,996 shares two weeks earlier. Short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.1.
• Shares opened at $7.68, near the lower end of their 52-week range of $7.39 to $11.61. Tele2 has a $10.57 billion market capitalization and a P/E ratio of 9.85.
• Analyst sentiment is mixed but leans toward caution: five analysts rate the stock Hold, while one rates it Strong Buy and another Buy, producing a consensus rating of Hold.

Tele2 (OTCMKTS:TLTZY - Get Free Report) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 14,400 shares, a decline of 87.6% from the September 15th total of 115,996 shares. Based on an average daily trading volume, of 173,551 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Tele2 Price Performance

Shares of OTCMKTS:TLTZY opened at $7.68 on Friday. Tele2 has a 52 week low of $7.39 and a 52 week high of $11.61. The company has a 50-day moving average price of $8.55 and a 200 day moving average price of $9.18. The company has a market cap of $10.57 billion, a P/E ratio of 9.85 and a beta of 0.38. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.94.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TLTZY shares. BNP Paribas Exane cut shares of Tele2 from an "outperform" rating to a "neutral" rating in a report on Wednesday, September 9th. Zacks Research cut shares of Tele2 from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. Kepler Capital Markets raised Tele2 from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Sanford C. Bernstein downgraded Tele2 to a "market perform" rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold".

Tele2 Company Profile

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

The company also provides internet-of-things (IoT) connectivity and other business services designed to help organizations connect devices, manage communications and support digital operations.

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