Short Interest in Telefonica SA (NYSE:TEF) Grows By 24.8%

Key Points

• Short interest in Telefonica SA grew by 24.8% in August, reaching a total of 3,880,000 shares as of August 31.
• The company reported $10.28 billion in revenue for the last quarter, exceeding analyst expectations of $9.03 billion.
• Several research analysts have upgraded Telefonica's stock rating, with Wall Street Zen moving it from a "hold" to a "buy" rating in May.

Telefonica SA (NYSE:TEF - Get Free Report) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 3,880,000 shares, a growth of 24.8% from the August 15th total of 3,110,000 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 573,400 shares, the short-interest ratio is currently 6.8 days. Based on an average daily volume of 573,400 shares, the short-interest ratio is currently 6.8 days. Approximately 0.1% of the shares of the stock are sold short.

Telefonica Price Performance

NYSE:TEF opened at $5.37 on Thursday. The firm has a market cap of $30.42 billion, a price-to-earnings ratio of -11.18, a price-to-earnings-growth ratio of 0.61 and a beta of 0.56. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.47. The company's 50-day moving average is $5.35 and its two-hundred day moving average is $5.08. Telefonica has a 12-month low of $3.89 and a 12-month high of $5.72.

Telefonica (NYSE:TEF - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. The company had revenue of $10.28 billion for the quarter, compared to analyst estimates of $9.03 billion. Telefonica had a negative net margin of 5.88% and a positive return on equity of 8.57%. Research analysts expect that Telefonica will post 0.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TEF. Wall Street Zen upgraded shares of Telefonica from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Berenberg Bank upgraded shares of Telefonica to a "hold" rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Telefonica has an average rating of "Reduce".

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its stake in shares of Telefonica by 47.9% during the 2nd quarter. Osaic Holdings Inc. now owns 29,272 shares of the utilities provider's stock valued at $153,000 after acquiring an additional 9,480 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in Telefonica by 9.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 104,396 shares of the utilities provider's stock worth $546,000 after purchasing an additional 8,883 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Telefonica by 110.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,804 shares of the utilities provider's stock worth $93,000 after purchasing an additional 9,340 shares in the last quarter. Corient Private Wealth LLC increased its position in Telefonica by 65.2% during the 2nd quarter. Corient Private Wealth LLC now owns 86,231 shares of the utilities provider's stock worth $451,000 after purchasing an additional 34,048 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Telefonica by 31.9% in the second quarter. Smartleaf Asset Management LLC now owns 26,600 shares of the utilities provider's stock valued at $138,000 after acquiring an additional 6,429 shares in the last quarter. 1.14% of the stock is currently owned by hedge funds and other institutional investors.

About Telefonica

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.

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