Telenor ASA (OTCMKTS:TELNY) Shares Shorted: Short Interest Up 175.9% in October

Key Points

• Telenor’s short interest jumped 175.9% in October to 102,360 shares, though short positions represented 0.0% of shares outstanding and equated to just 0.5 days of trading volume.
• The stock opened at $14.05, up 2.9%, with a $19.23 billion market capitalization. Telenor exceeded quarterly expectations, reporting $0.28 EPS versus the $0.24 consensus and revenue of $1.99 billion versus $1.93 billion expected.
• Analyst sentiment is mixed but averages to a “Moderate Buy” rating, with three Strong Buy, two Hold and two Sell recommendations.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 102,360 shares, a growth of 175.9% from the September 30th total of 37,094 shares. Based on an average daily volume of 193,706 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the shares of the company are short sold.

Telenor ASA Trading Up 2.9%

Shares of TELNY stock opened at $14.05 on Thursday. The firm has a market capitalization of $19.23 billion, a P/E ratio of 14.34 and a beta of 0.31. The stock's fifty day moving average is $13.92 and its two-hundred day moving average is $15.63. Telenor ASA has a fifty-two week low of $12.97 and a fifty-two week high of $18.92. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.32.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.93 billion. Research analysts expect that Telenor ASA will post 0.90 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TELNY shares. Pareto Securities upgraded shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Zacks Research lowered shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Berenberg Bank raised shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 1st. The Goldman Sachs Group cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 4th. Finally, Kepler Capital Markets upgraded shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 24th. Three analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

About Telenor ASA

Telenor ASA is a Norwegian telecommunications company headquartered in Fornebu, Norway. The company provides mobile voice and data services, fixed broadband, television, digital communications and related technology services to consumers, businesses and public-sector customers.

Telenor's core operating businesses are concentrated in the Nordic region, including Norway, Sweden, Denmark and Finland. Its services include mobile networks, fiber and other broadband connections, entertainment offerings, enterprise connectivity, Internet of Things solutions and digital services.

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