Telenor ASA (OTCMKTS:TELNY) Short Interest Up 808.1% in August

Key Points

• Telenor ASA’s short interest surged 808.1% in August to 39,339 shares from 4,332 shares, though short positions represented 0.0% of shares outstanding and just 0.4 days of average trading volume.
• Analyst sentiment was mixed, with ratings ranging from “strong buy” to “sell”; MarketBeat’s overall consensus rating remained “Hold.”
• Telenor shares fell 1.4% to $14.52. The company’s latest quarterly results missed estimates, reporting $0.21 in EPS versus expectations of $0.23 and revenue of $1.88 billion versus $1.91 billion expected.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 39,339 shares, a growth of 808.1% from the August 15th total of 4,332 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 99,877 shares, the short-interest ratio is presently 0.4 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Telenor ASA from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. Pareto Securities raised Telenor ASA from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. The Goldman Sachs Group downgraded Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 4th. Finally, Barclays cut Telenor ASA from an "equal weight" rating to an "underweight" rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold".

Telenor ASA Trading Down 1.4%

Shares of TELNY traded down $0.20 during mid-day trading on Thursday, reaching $14.52. The company's stock had a trading volume of 60,797 shares, compared to its average volume of 53,247. Telenor ASA has a 52 week low of $12.97 and a 52 week high of $18.92. The stock has a market cap of $19.86 billion, a PE ratio of 14.81 and a beta of 0.31. The company's fifty day moving average price is $14.27 and its two-hundred day moving average price is $15.93. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last released its earnings results on Thursday, July 16th. The utilities provider reported $0.21 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 business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. On average, analysts predict that Telenor ASA will post 0.93 earnings per share for the current fiscal year.

About Telenor ASA

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

The company operates telecommunications businesses primarily across the Nordic region and Asia. Its services include mobile voice and data, 5G connectivity, broadband access, digital entertainment, communications infrastructure, and Internet of Things solutions.

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