Telefonica SA (NYSE:TEF) Short Interest Down 28.8% in August

Key Points

• Telefonica SA experienced a significant drop in short interest, with a decrease of 28.8% in August, bringing total short interest down to 3,110,000 shares.
• Several analysts have adjusted their ratings, with a notable upgrade from Wall Street Zen from "hold" to "buy."
• The company's recent quarterly earnings met expectations, reporting $0.08 EPS and revenue of $10.28 billion, surpassing estimates of $9.03 billion.

Telefonica SA (NYSE:TEF - Get Free Report) was the target of a large decrease in short interest during the month of August. As of August 15th, there was short interest totaling 3,110,000 shares, adecreaseof28.8% from the July 31st total of 4,370,000 shares. Based on an average daily trading volume, of 594,400 shares, the short-interest ratio is currently 5.2 days. Based on an average daily trading volume, of 594,400 shares, the short-interest ratio is currently 5.2 days.

Wall Street Analyst Weigh In

TEF has been the subject of a number of research analyst reports. Berenberg Bank raised shares of Telefonica to a "hold" rating in a research report on Thursday, June 26th. DZ Bank lowered shares of Telefonica from a "hold" rating to a "strong sell" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Telefonica from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Telefonica has an average rating of "Reduce".

Telefonica Stock Performance

Shares of NYSE TEF traded up $0.01 during trading on Monday, reaching $5.35. 155,312 shares of the company traded hands, compared to its average volume of 676,157. The firm has a 50 day simple moving average of $5.34 and a 200-day simple moving average of $5.04. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $30.31 billion, a PE ratio of -11.14, a P/E/G ratio of 0.61 and a beta of 0.56. Telefonica has a 52-week low of $3.89 and a 52-week high of $5.72.

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

Hedge Funds Weigh In On Telefonica

Several hedge funds and other institutional investors have recently made changes to their positions in TEF. Tower Research Capital LLC TRC increased its holdings in shares of Telefonica by 71.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,236 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 2,603 shares during the period. Atwood & Palmer Inc. bought a new stake in Telefonica during the 2nd quarter valued at $44,000. Cromwell Holdings LLC grew its holdings in shares of Telefonica by 50.4% in the 1st quarter. Cromwell Holdings LLC now owns 10,031 shares of the utilities provider's stock worth $47,000 after acquiring an additional 3,361 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Telefonica during the fourth quarter valued at $48,000. Finally, Momentous Wealth Management Inc. acquired a new position in shares of Telefonica during the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 1.14% of the company's stock.

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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