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

Key Points

• Tele2 experienced a significant decline in short interest, dropping by 60.9% from 4,600 shares to 1,800 shares as of July 31st.
• The company reported earnings of $0.09 per share for the quarter, surpassing analysts' expectations of $0.08.
• Several analysts upgraded Tele2's rating to "strong-buy", indicating growing investor confidence in the stock.

Tele2 (OTCMKTS:TLTZY - Get Free Report) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 1,800 shares, adecreaseof60.9% from the July 15th total of 4,600 shares. Currently,0.0% of the shares of the company are sold short. Based on an average daily volume of 34,600 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 34,600 shares, the days-to-cover ratio is currently 0.1 days. Currently,0.0% of the shares of the company are sold short.

Tele2 Trading Up 1.0%

Tele2 stock traded up $0.0850 during mid-day trading on Thursday, hitting $8.5850. The stock had a trading volume of 4,628 shares, compared to its average volume of 11,297. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09. Tele2 has a 12 month low of $4.6160 and a 12 month high of $8.72. The stock has a market capitalization of $11.75 billion, a PE ratio of 29.60 and a beta of 0.50. The stock has a 50-day simple moving average of $7.67 and a two-hundred day simple moving average of $6.97.

Tele2 (OTCMKTS:TLTZY - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. Tele2 had a return on equity of 19.39% and a net margin of 14.10%.The firm had revenue of $750.96 million for the quarter, compared to analysts' expectations of $7.34 billion. As a group, sell-side analysts forecast that Tele2 will post 0.28 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TLTZY. UBS Group raised Tele2 from a "sell" rating to a "buy" rating in a research report on Monday, August 4th. Kepler Capital Markets raised Tele2 from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 18th. Finally, Pareto Securities raised Tele2 to a "strong-buy" rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Strong Buy".

Tele2 Company Profile

Tele2 AB (publ) provides fixed and mobile connectivity, handset related data services, and entertainment services in Sweden, Lithuania, Latvia, and Estonia. The company offers mobile telephony and data, fixed broadband, fixed telephony, switch and contact center, cloud services, IT services, network services, workplace, video and collaboration, united communications, and security services.